Short-term stake in Lakeland Bancorp, Inc. (NASDAQ:LBAI) increases 39.1%

Lakeland Bancorp, Inc. (NASDAQ: LBAI – Get a rating) benefited from significant growth in short interest during the month of February. As of February 15, there was short interest totaling 1,530,000 shares, a growth of 39.1% from the total of 1,100,000 shares as of January 31. Based on an average daily trading volume of 243,600 shares, the day-to-cover ratio is currently 6.3 days.

NASDAQ: LBAI traded down $0.52 during Friday trading hours, hitting $17.42. The company’s stock had a trading volume of 123,652 shares, compared to an average volume of 198,197. The stock has a market capitalization of $1.13 billion, a P/E ratio of 9.47 and a beta of 0.88. The stock has a fifty-day moving average of $18.99 and a 200-day moving average of $18.20. The company has a current ratio of 0.87, a quick ratio of 0.92 and a debt ratio of 0.25. Lakeland Bancorp has a 52-week low of $15.31 and a 52-week high of $20.69.

Lakeland Bancorp (NASDAQ: LBAI – Get a rating) last reported results on Wednesday, January 26. The financial services provider reported EPS of $0.45 for the quarter, beating the consensus estimate of $0.42 by $0.03. Lakeland Bancorp had a return on equity of 11.86% and a net margin of 33.98%. During the same period last year, the company achieved EPS of $0.37. On average, sell-side analysts expect Lakeland Bancorp to post 1.7 earnings per share for the current year.

(A d)

“There are not enough semiconductor chips in the world to meet the growing demand. But due to the global chip shortage…

These four companies are well positioned to take advantage of this rapidly growing demand over the next 12 months and beyond. ”

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 17. Shareholders of record on Monday, February 7 received a dividend of $0.135. The ex-dividend date was Friday, February 4. This represents an annualized dividend of $0.54 and a yield of 3.10%. Lakeland Bancorp’s dividend payout ratio is currently 29.35%.

Hedge funds and other institutional investors have recently increased or reduced their stakes in the company. Lazard Asset Management LLC acquired a new position in Lakeland Bancorp in the fourth quarter worth $28,000. Berman Capital Advisors LLC increased its stake in Lakeland Bancorp by 124.0% in the third quarter. Berman Capital Advisors LLC now owns 6,422 shares of the financial services provider valued at $113,000 after acquiring 3,555 additional shares last quarter. Cubist Systematic Strategies LLC acquired a new position in Lakeland Bancorp in the second quarter worth $186,000. Metropolitan Life Insurance Co NY increased its stake in Lakeland Bancorp to 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 acquiring 11,079 additional shares last quarter. Finally, Commonwealth Equity Services LLC acquired a new position in Lakeland Bancorp in the fourth quarter worth $204,000. Institutional investors hold 63.30% of the company’s shares.

About Lakeland Bancorp (Get a rating)

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, mortgage and safe deposit services.

Featured articles

This instant news alert was powered by MarketBeat’s storytelling science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]

Should you invest $1,000 in Lakeland Bancorp right now?

Before you consider Lakeland Bancorp, you’ll want to hear this.

MarketBeat tracks daily the highest rated and most successful research analysts on Wall Street and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes off…and Lakeland Bancorp was not on the list.

While Lakeland Bancorp currently has a “Strong Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.

See the 5 actions here

About Clayton Arredondo

Check Also

When Attending Your Dream College Means Massive Student Loan Debt

Does attending my dream school mean taking out substantial student loans? This is a critical …