The stock of Lakeland Bancorp, Inc. (NASDAQ:LBAI) hit a new 52-week high and has $19.44 target or 8.00% above today’s $18.00 share price. The 7 months bullish chart indicates low risk for the $786.52M company. The 1-year high was reported on Nov, 29 by Barchart.com. If the $19.44 price target is reached, the company will be worth $62.92M 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 99,261 shares traded hands. Lakeland Bancorp, Inc. (NASDAQ:LBAI) has risen 54.63% since April 26, 2016 and is uptrending. It has outperformed by 49.37% the S&P500.
Analysts await Lakeland Bancorp, Inc. (NASDAQ:LBAI) to report earnings on January, 26. They expect $0.25 earnings per share, up 4.17% or $0.01 from last year’s $0.24 per share. LBAI’s profit will be $10.92M for 18.00 P/E if the $0.25 EPS becomes a reality. After $0.28 actual earnings per share reported by Lakeland Bancorp, Inc. for the previous quarter, Wall Street now forecasts -10.71% negative EPS growth.
Lakeland Bancorp, Inc. (NASDAQ:LBAI) Ratings Coverage
Out of 2 analysts covering Lakeland Bancorp (NASDAQ:LBAI), 1 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 50% are positive. Lakeland Bancorp has been the topic of 3 analyst reports since August 13, 2015 according to StockzIntelligence Inc. The rating was downgraded by Raymond James on Thursday, October 27 to “Mkt Perform”.
According to Zacks Investment Research, “LAKELAND BANCORP INC. is a bank holding company engaged in general banking business.”
Insitutional Activity: The institutional sentiment increased to 1.48 in Q2 2016. Its up 0.11, from 1.37 in 2016Q1. The ratio increased, 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.
Geode Capital Mngmt Limited last reported 0% of its portfolio in the stock. Verus Partners has 13,963 shares for 0.07% of their US portfolio. Renaissance Technology Limited Liability Company last reported 256,102 shares in the company. Moreover, Nationwide Fund Advsrs has 0% invested in Lakeland Bancorp, Inc. (NASDAQ:LBAI) for 30,170 shares. Banc Funds Limited Company holds 1.07% or 1.61 million shares in its portfolio. Maltese Lc owns 496,300 shares or 0.71% of their US portfolio. Manufacturers Life The last reported 0% of its portfolio in the stock. Blackrock Fund Advsr has 999,736 shares for 0% of their US portfolio. Basswood Cap Mgmt Ltd Liability accumulated 397,571 shares or 0.26% of the stock. Lsv Asset Management last reported 0.01% of its portfolio in the stock. Vanguard Gru accumulated 0% or 1.19 million shares. Blackrock Advsrs Limited Liability Com holds 0% or 20,006 shares in its portfolio. Alpine Woods Invsts Limited Liability Corporation holds 0.01% of its portfolio in Lakeland Bancorp, Inc. (NASDAQ:LBAI) for 13,000 shares. Bridgeway Cap Mngmt accumulated 0.04% or 206,990 shares. The New York-based Bnp Paribas Arbitrage Sa has invested 0% in Lakeland Bancorp, Inc. (NASDAQ:LBAI).
Insider Transactions: Since June 15, 2016, the stock had 1 buy, and 11 sales for $3.09 million net activity. Shares for $508,303 were sold by MCCLURE STEWART E JR on Monday, October 31. Another trade for 990 shares valued at $16,484 was sold by DEUTSCH EDWARD B. 2,000 Lakeland Bancorp, Inc. (NASDAQ:LBAI) shares with value of $23,980 were bought by TILTON STEPHEN R SR.
More news for Lakeland Bancorp, Inc. (NASDAQ:LBAI) were recently published by: Globenewswire.com, which released: “Lakeland Bancorp Announces Closing of Acquisition of Harmony Bank” on July 01, 2016. Nasdaq.com‘s article titled: “Lakeland Bancorp, Inc. (LBAI) Ex-Dividend Date Scheduled for November 03, 2016” and published on November 02, 2016 is yet another important article.
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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