Steward Partners Investment Advisory LLC lowered its position in Lakeland Bancorp, Inc. (NASDAQ:LBAI) by 3.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,250 shares of the financial services provider’s stock after selling 858 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Lakeland Bancorp were worth $441,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Quadrant Capital Group LLC grew its holdings in Lakeland Bancorp by 483.1% during the 2nd quarter. Quadrant Capital Group LLC now owns 1,720 shares of the financial services provider’s stock valued at $30,000 after buying an additional 1,425 shares during the last quarter. Berman Capital Advisors LLC grew its holdings in Lakeland Bancorp by 56.6% during the 2nd quarter. Berman Capital Advisors LLC now owns 2,867 shares of the financial services provider’s stock valued at $50,000 after buying an additional 1,036 shares during the last quarter. Royal Bank of Canada grew its holdings in Lakeland Bancorp by 189.8% during the 1st quarter. Royal Bank of Canada now owns 7,592 shares of the financial services provider’s stock valued at $132,000 after buying an additional 4,972 shares during the last quarter. Schonfeld Strategic Advisors LLC acquired a new stake in Lakeland Bancorp during the 1st quarter valued at $178,000. Finally, Connors Investor Services Inc. acquired a new stake in Lakeland Bancorp during the 2nd quarter valued at $196,000. Institutional investors and hedge funds own 59.37% of the company’s stock.
Shares of Lakeland Bancorp stock opened at $17.41 on Thursday. Lakeland Bancorp, Inc. has a fifty-two week low of $10.36 and a fifty-two week high of $19.35. The firm has a market cap of $880.96 million, a PE ratio of 10.68 and a beta of 1.02. The business’s fifty day moving average is $17.03 and its two-hundred day moving average is $17.43. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.17.
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 15th. Shareholders of record on Friday, November 5th will be paid a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date of this dividend is Thursday, November 4th. Lakeland Bancorp’s dividend payout ratio is presently 47.79%.
In other news, Director Brian Gragnolati bought 2,000 shares of the business’s stock in a transaction that occurred on Monday, September 13th. The shares were acquired at an average cost of $16.63 per share, with a total value of $33,260.00. Following the transaction, the director now owns 13,658 shares of the company’s stock, valued at approximately $227,132.54. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Paul Ho-Sing-Loy bought 3,000 shares of the business’s stock in a transaction that occurred on Friday, September 17th. The stock was purchased at an average cost of $16.50 per share, for a total transaction of $49,500.00. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 12,250 shares of company stock worth $201,723. Corporate insiders own 4.24% of the company’s stock.
Separately, Zacks Investment Research cut Lakeland Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday.
Lakeland Bancorp Company Profile
Lakeland Bancorp, Inc is a bank holding company, which engages in the provision of 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, consumer installment loans, mortgage loans, and safe deposit services.
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