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.
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.
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