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Simplicity Solutions LLC reduces stakes in Lakeland Bancorp, Inc. (NASDAQ:LBAI)


Simplicity Solutions LLC reduced its position in shares of Lakeland Bancorp, Inc. (NASDAQ:LBAI – Free Report) rose 20.7% during the fourth quarter, HoldingsChannel reports. The company owned 17,355 shares of the financial services provider after selling 4,527 shares during the period. Simplicity Solutions LLC’s holdings in Lakeland Bancorp were worth $257,000 at the time of the most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Legal & General Group Plc increased its stake in shares of Lakeland Bancorp by 2.0% in the fourth quarter. Legal & General Group Plc now owns 26,706 shares of the financial services provider’s stock valued at $470,000 after purchasing an additional 530 shares during the period. Great West Life Assurance Co. Can increased his stake in Lakeland Bancorp shares by 26.1% during the first quarter. Great West Life Assurance Co. Can now owns 4,169 shares of the financial services company valued at $73,000, after purchasing an additional 863 shares during the period. Boothbay Fund Management LLC increased its position in shares of Lakeland Bancorp by 0.9% during the first quarter. Boothbay Fund Management LLC now owns 95,710 shares of the financial services provider’s stock worth $1,497,000 after purchasing an additional 879 shares in the last quarter. Inspire Investing LLC grew its position in shares of Lakeland Bancorp by 3.9% during the third quarter. Inspire Investing LLC now owns 24,317 shares of the financial services provider’s stock worth $307,000 after purchasing an additional 915 shares in the last quarter. Finally, Ameritas Investment Partners Inc. increased its position in shares of Lakeland Bancorp by 24.8% during the first quarter. Ameritas Investment Partners Inc. now owns 4,784 shares of the financial services company worth $80,000, after purchasing an additional 950 shares in the last quarter. Hedge funds and other institutional investors own 59.62% of the company’s shares.

Stock Performance Lakeland Bancorp

Shares of LBAI opened at $11.95 on Friday. Lakeland Bancorp, Inc. has a 1-year low of $10.65 and a 1-year high of $16.00. The company has a fifty-day moving average of $11.97 and a 200-day moving average of $12.71. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.93 and a current ratio of 0.93. The company has a market cap of $778.54 million, a price-to-earnings ratio of 9.34 and a beta of 0.85.

Lakeland Bancorp (NASDAQ:LBAI – Get Free Report) posted its latest quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.30 earnings per share for the quarter, matching analyst consensus estimates of $0.30. Lakeland Bancorp had a net margin of 16.42% and a return on equity of 7.43%. The company had revenue of $72.09 million for the quarter. As a group, equity analysts expect Lakeland Bancorp, Inc. will post earnings per share of 1.07 for the current year.

Dividend announcement from Lakeland Bancorp

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 8. Investors of record on Monday, April 29 will receive a dividend of $0.145 per share. This represents a dividend of $0.58 annually and a dividend yield of 4.85%. The ex-dividend date is Friday, April 26. Lakeland Bancorp’s dividend payout ratio currently stands at 45.31%.

Analysts set new price targets

A number of analysts have recently weighed in on LBAI stock. Keefe, Bruyette & Woods lowered their price target on shares of Lakeland Bancorp from $17.50 to $16.65 and set a “market perform” rating for the company in a research report on Tuesday, January 30. StockNews.com raised shares of Lakeland Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, April 12.

Check out our latest research report on LBAI

Company Profile Lakeland Bancorp

(Free report)

Lakeland Bancorp, Inc operates as the bank holding company for Lakeland Bank and provides financial products and services to businesses and consumers. It offers commercial banking services including savings, money market and time deposit accounts, as well as demand deposits. The company also offers credit 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 mortgages, small business administration. loans and credit card services for merchants; financing solutions for small and medium-sized businesses; online banking, mobile banking and transfer services to business and municipal relations; and cash management services, such as remote deposit capture and overnight sweep repurchase agreements.

Also see

Would you like to see which other hedge funds own LBAI? Visit HoldingsChannel.com for the latest 13F filings and insider transactions for Lakeland Bancorp, Inc. (NASDAQ:LBAI – Free Report).

Quarterly Institutional Ownership for Lakeland Bancorp (NASDAQ:LBAI)



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