The stock of Lakeland Bancorp, Inc. (NASDAQ:LBAI) hit a new 52-week high and has $20.41 target or 46.00% above today’s $13.98 share price. The 5 months bullish chart indicates low risk for the $615.92 million company. The 1-year high was reported on Sep, 30 by Barchart.com. If the $20.41 price target is reached, the company will be worth $283.32 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 31,477 shares traded hands. Lakeland Bancorp, Inc. (NASDAQ:LBAI) has risen 35.37% since February 26, 2016 and is uptrending. It has outperformed by 24.94% the S&P500.
Analysts await Lakeland Bancorp, Inc. (NASDAQ:LBAI) to report earnings on October, 25. They expect $0.26 EPS, up 18.18% or $0.04 from last year’s $0.22 per share. LBAI’s profit will be $11.45 million for 13.44 P/E if the $0.26 EPS becomes a reality. After $0.26 actual EPS reported by Lakeland Bancorp, Inc. for the previous quarter, Wall Street now forecasts 0.00% EPS growth.
Lakeland Bancorp, Inc. (NASDAQ:LBAI) Ratings Coverage
Out of 2 analysts covering Lakeland Bancorp (NASDAQ:LBAI), 2 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. $13.50 is the highest target while $12 is the lowest. The $12.75 average target is -8.80% below today’s ($13.98) stock price. Lakeland Bancorp has been the topic of 2 analyst reports since August 13, 2015 according to StockzIntelligence Inc.
According to Zacks Investment Research, “LAKELAND BANCORP INC. is a bank holding company engaged in general banking business.”
Insitutional Activity: The institutional sentiment decreased to 1.37 in Q2 2016. Its down 1.05, from 2.42 in 2016Q1. The ratio worsened, as 8 funds sold all Lakeland Bancorp, Inc. shares owned while 27 reduced positions. 9 funds bought stakes while 39 increased positions. They now own 18.15 million shares or 0.79% more from 18.00 million shares in 2016Q1.
State Board Of Administration Of Florida Retirement Systems has 56,140 shares for 0% of their US portfolio. Tiaa Cref Inv Management Llc last reported 0% of its portfolio in the stock. Deutsche Financial Bank Ag, a Germany-based fund reported 239,518 shares. Commercial Bank Of Montreal Can reported 13,250 shares or 0% of all its holdings. Moreover, Alliancebernstein Limited Partnership has 0% invested in Lakeland Bancorp, Inc. (NASDAQ:LBAI) for 29,445 shares. Palouse Mgmt holds 20,047 shares or 0.09% of its portfolio. Pacific Ridge Capital Prns Ltd Llc accumulated 47,010 shares or 0.24% of the stock. Brandywine Investment Mgmt Ltd Liability Com holds 14,637 shares or 0% of its portfolio. First Republic Invest Mngmt holds 0% of its portfolio in Lakeland Bancorp, Inc. (NASDAQ:LBAI) for 31,400 shares. Bnp Paribas Arbitrage Sa accumulated 1,566 shares or 0% of the stock. Cornerstone Mngmt Hldg Ltd Llc holds 9,800 shares or 0% of its portfolio. Blackrock has 9,472 shares for 0% of their US portfolio. Blackrock Mgmt Limited Liability Co accumulated 0% or 165,219 shares. Geode Cap Mngmt Lc last reported 0% of its portfolio in the stock. Cardinal Capital Mngmt Ltd Liability Corp Ct reported 102,020 shares or 0.06% of all its holdings.
Insider Transactions: Since May 25, 2016, the stock had 1 buy, and 3 sales for $149,865 net activity. TILTON STEPHEN R SR also bought $23,980 worth of Lakeland Bancorp, Inc. (NASDAQ:LBAI) on Wednesday, August 3. $57,500 worth of Lakeland Bancorp, Inc. (NASDAQ:LBAI) shares were sold by DEUTSCH EDWARD B. Matteson Timothy J sold $51,345 worth of stock.
More notable recent Lakeland Bancorp, Inc. (NASDAQ:LBAI) news were published by: Globenewswire.com which released: “Lakeland Bancorp Announces Pricing of $75 Million of 5.125% Subordinated Notes” on September 30, 2016, also Streetinsider.com with their article: “Lakeland Bancorp (LBAI), Harmony Bank Enter ~$32M Merger Agreement” published on February 18, 2016, Globenewswire.com published: “Lakeland Bancorp Announces Closing of Acquisition of Pascack Bancorp” on January 07, 2016. More interesting news about Lakeland Bancorp, Inc. (NASDAQ:LBAI) were released by: Globenewswire.com and their article: “Harmony Bank Shareholders Approve Merger With Lakeland Bank; Parties Announce …” published on June 22, 2016 as well as Globenewswire.com‘s news article titled: “Lakeland Bancorp to Acquire Pascack Bancorp” with publication date: August 04, 2015.
LBAI Company Profile
Lakeland Bancorp, Inc., incorporated on June 11, 1905, is the bank holding firm for Lakeland Bank (Lakeland). Lakeland operates under a state bank charter and provides full banking services. Lakeland generates commercial, mortgage and consumer loans and receives deposits from clients located in Northern and Central New Jersey. Lakeland also provides non-deposit products, such as securities brokerage services, including mutual funds and variable annuities. Through Lakeland, the Company offers a range of lending, depository and related financial services to individuals and small to medium sized businesses located in northern and central New Jersey. Lakeland’s equipment financing division provides a solution to small and medium sized companies, who prefer to lease equipment over other financial alternatives. Lakeland’s asset based loan department provides commercial borrowers with another lending alternative.
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