Lakeland Bancorp, Inc. (NASDAQ:LBAI) experienced a significant drop in short-term interest in January. As of January 15, there was short interest totaling 1,190,000 shares, a decrease of 51.6% from the total of 2,460,000 shares as of December 31. Based on an average daily trading volume of 212,500 shares, the day-to-cover ratio is currently 5.6 days. Approximately 2.5% of the company’s shares are sold short.
Separately, Zacks Investment Research downgraded shares of Lakeland Bancorp from a “hold” rating to a “sell” rating in a Wednesday, Oct. 27 research note.
Shares of Action LBAI opened at $18.81 on Friday. The company has a debt ratio of 0.26, a current ratio of 0.92 and a quick ratio of 0.92. The company has a market capitalization of $951.90 million, a PE ratio of 10.57 and a beta of 0.92. The company has a 50-day moving average of $18.96 and a two-hundred-day moving average of $17.83. Lakeland Bancorp has a 1-year low of $13.08 and a 1-year high of $20.69.
Lakeland Bancorp Inc (NASDAQ:LBAI) last announced its results on Tuesday, January 25. The financial services provider reported earnings per share (EPS) of $0.45 for the quarter, beating analyst consensus estimates of $0.42 by $0.03. Lakeland Bancorp had a net margin of 32.78% and a return on equity of 11.67%. In the same quarter last year, the company achieved EPS of $0.37. Sell-side analysts expect Lakeland Bancorp to post EPS of 1.87 for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 17. Investors of record on Monday, February 7 will receive a dividend of $0.135. The ex-dividend date is Friday, February 4. This represents a dividend of $0.54 on an annualized basis and a yield of 2.87%. Lakeland Bancorp’s dividend payout ratio (DPR) is 30.34%.
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A number of large investors have recently bought and sold shares of LBAI. Berman Capital Advisors LLC increased its position in Lakeland Bancorp by 124.0% in Q3. Berman Capital Advisors LLC now owns 6,422 shares of the financial services provider valued at $113,000 after buying 3,555 additional shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in Lakeland Bancorp in Q2 worth $186,000. Metropolitan Life Insurance Co NY increased its position in Lakeland Bancorp by 85,223.1% in the second quarter. Metropolitan Life Insurance Co NY now owns 11,092 shares of the financial services provider valued at $194,000 after purchasing an additional 11,079 shares in the last quarter. Mariner LLC bought a new position in Lakeland Bancorp in Q3 worth $222,000. Finally, Beacon Pointe Advisors LLC bought a new position in Lakeland Bancorp in Q2 worth $235,000. Hedge funds and other institutional investors own 62.07% of the company’s shares.
About Lakeland Bancorp
Lakeland Bancorp, Inc is a bank holding company that provides lending, depository and related financial services. Its consumer banking services include checking accounts, savings accounts, interest-bearing checking accounts, money market accounts, certificates of deposit, internet banking, secured and unsecured loans, installment loans consumer products, mortgages and safe deposit services.
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