Lakeland Bancorp, Inc. (NASDAQ:LBAI) EVP Paul Ho-Sing-Loy Sells 8,000 Shares

Lakeland Bancorp, Inc. (NASDAQ:LBAI) EVP Paul Ho-Sing-Loy sold 8,000 shares of Lakeland Bancorp stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $12.54, for a total transaction of $100,320.00. Following the sale, the executive vice president now owns 40,763 shares in the company, valued at approximately $511,168.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Lakeland Bancorp Stock Performance

Lakeland Bancorp stock opened at $12.78 on Wednesday. Lakeland Bancorp, Inc. has a 52-week low of $10.65 and a 52-week high of $16.00. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.93 and a quick ratio of 0.93. The stock has a fifty day moving average price of $12.05 and a two-hundred day moving average price of $12.77. The firm has a market capitalization of $832.62 million, a P/E ratio of 9.98 and a beta of 0.82.

Lakeland Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Monday, April 29th will be issued a dividend of $0.145 per share. This represents a $0.58 annualized dividend and a yield of 4.54%. The ex-dividend date of this dividend is Friday, April 26th. Lakeland Bancorp’s dividend payout ratio is currently 45.31%.

Institutional Trading of Lakeland Bancorp

Large investors have recently added to or reduced their stakes in the company. Rise Advisors LLC acquired a new position in shares of Lakeland Bancorp in the 1st quarter worth approximately $29,000. Parallel Advisors LLC raised its position in Lakeland Bancorp by 4,563.6% in the 4th quarter. Parallel Advisors LLC now owns 2,052 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 2,008 shares during the last quarter. Lindbrook Capital LLC boosted its stake in Lakeland Bancorp by 4,356.0% in the fourth quarter. Lindbrook Capital LLC now owns 2,228 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 2,178 shares in the last quarter. Signaturefd LLC grew its holdings in shares of Lakeland Bancorp by 212.5% during the fourth quarter. Signaturefd LLC now owns 2,597 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 1,766 shares during the last quarter. Finally, Private Wealth Management Group LLC acquired a new stake in shares of Lakeland Bancorp in the fourth quarter valued at $47,000. 59.62% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

LBAI has been the topic of several recent research reports. StockNews.com upgraded shares of Lakeland Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, April 23rd. Keefe, Bruyette & Woods lowered their price objective on Lakeland Bancorp from $16.65 to $14.15 and set a “market perform” rating on the stock in a research note on Tuesday, April 23rd.

About Lakeland Bancorp

Lakeland Bancorp, Inc operates as the bank holding company for Lakeland Bank that provides financial products and services for businesses and consumers. It provides commercial banking services, including savings, money market, and time accounts, as well as demand deposits. The company also offers lending services, including commercial real estate loans, commercial and industrial loans, short and medium term loans, lines of credit, letters of credit, inventory and accounts receivable financing, real estate construction loans, residential mortgage loans, small business administration loans, and merchant credit card services; financing solutions to small and medium-sized companies; online banking, mobile banking, and wire transfer services to the business community and municipal relationships; and cash management services, such as remote capture of deposits and overnight sweep repurchase agreements.