MetLife Investment Advisors LLC lowered its stake in shares of Lakeland Bancorp, Inc. (NASDAQ:LBAI) by 36.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 19,901 shares of the financial services provider’s stock after selling 11,231 shares during the quarter. MetLife Investment Advisors LLC’s holdings in Lakeland Bancorp were worth $295,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of LBAI. BlackRock Inc. raised its stake in Lakeland Bancorp by 3.6% in the fourth quarter. BlackRock Inc. now owns 3,286,931 shares of the financial services provider’s stock valued at $48,680,000 after purchasing an additional 113,157 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Lakeland Bancorp by 5.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,900,242 shares of the financial services provider’s stock worth $42,952,000 after acquiring an additional 150,529 shares in the last quarter. Vanguard Group Inc raised its stake in shares of Lakeland Bancorp by 2.6% during the third quarter. Vanguard Group Inc now owns 2,121,333 shares of the financial services provider’s stock worth $38,291,000 after acquiring an additional 53,482 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Lakeland Bancorp by 2.6% during the third quarter. Vanguard Group Inc. now owns 2,121,333 shares of the financial services provider’s stock worth $38,291,000 after acquiring an additional 53,482 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of Lakeland Bancorp by 17.1% during the third quarter. Renaissance Technologies LLC now owns 648,630 shares of the financial services provider’s stock worth $11,708,000 after acquiring an additional 94,730 shares in the last quarter. Institutional investors own 53.62% of the company’s stock.
LBAI has been the topic of several research reports. Zacks Investment Research raised shares of Lakeland Bancorp from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a research note on Wednesday, May 1st. Boenning Scattergood raised shares of Lakeland Bancorp from a “neutral” rating to an “outperform” rating and set a $19.00 price target on the stock in a research note on Tuesday, April 30th. FIG Partners restated an “outperform” rating on shares of Lakeland Bancorp in a report on Monday. BidaskClub upgraded shares of Lakeland Bancorp from a “strong sell” rating to a “sell” rating in a report on Tuesday, April 30th. Finally, ValuEngine upgraded shares of Lakeland Bancorp from a “strong sell” rating to a “sell” rating in a report on Tuesday, April 30th. Two research analysts have rated the stock with a sell rating and four have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $20.13.
Lakeland Bancorp (NASDAQ:LBAI) last released its quarterly earnings results on Monday, April 29th. The financial services provider reported $0.31 earnings per share for the quarter, meeting the consensus estimate of $0.31. The business had revenue of $54.33 million for the quarter, compared to analysts’ expectations of $53.67 million. Lakeland Bancorp had a net margin of 25.63% and a return on equity of 10.64%. As a group, equities research analysts forecast that Lakeland Bancorp, Inc. will post 1.38 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Thursday, May 9th will be issued a $0.125 dividend. The ex-dividend date is Wednesday, May 8th. This represents a $0.50 annualized dividend and a yield of 3.01%. This is a boost from Lakeland Bancorp’s previous quarterly dividend of $0.12. Lakeland Bancorp’s payout ratio is 34.33%.
TRADEMARK VIOLATION WARNING: “MetLife Investment Advisors LLC Sells 11,231 Shares of Lakeland Bancorp, Inc. (NASDAQ:LBAI)” was first published by Baseball Daily News and is owned by of Baseball Daily News. If you are reading this story on another website, it was illegally stolen and reposted in violation of US and international copyright legislation. The correct version of this story can be accessed at https://www.baseballdailydigest.com/news/2019/05/09/lakeland-bancorp-inc-lbai-shares-sold-by-metlife-investment-advisors-llc.html.
About Lakeland Bancorp
Lakeland Bancorp, Inc operates as the bank holding company for Lakeland Bank that provides various banking products and services for individuals and small to medium sized businesses. It offers commercial banking services, including savings, money market, and time accounts, as well as demand deposits; lending solutions, such as short and medium term loans, lines of credit, letters of credit, inventory and accounts receivable financing, real estate construction loans, mortgage loans, small business administration loans, commercial real estate loans, commercial and industrial loans, and equipment financing, as well as merchant credit card services; and Internet banking, mobile banking, wire transfer, night depository, and cash management services.
Recommended Story: How can you know how many shares are floating?
Receive News & Ratings for Lakeland Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lakeland Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.