As of May 6, 2023, Lakeland Bancorp stock opened at $12.37. The company’s debt-to-equity ratio is 0.20, with a current ratio and quick ratio of 0.87. Over the past year, the company’s stock has ranged from a low of $11.89 to a high of $20.02. Lakeland Bancorp currently boasts a market cap of approximately $804.30 million and has a PE ratio of 7.32, with a beta rate of 0.81.
Recently, several analysts have weighed in on LBAI’s financial standing and projected performance results for the future. Keefe, Bruyette & Woods previously decreased their price target from $22.50 to $20.80 and rated the stock as “market perform” in an April 6th research note.
Fellow analysts at StockNews.com have given Lakeland Bancorp a “hold” rating and labeled it as essentially one to watch over time for any changes in its potential growth patterns.
Overall, five equities research analysts have commented on the position of LBAI with four holding the stock at “hold” while one consider it worthy enough for purchase (a “buy” rating). Bloomberg.com reports that the average consensus rating for this organization is still labeled as “Hold,” with an average target price tagged at $18.60.
It seems that insiders’ activity may offer some insight into what might be next for this institution since top decision-makers have recently added to their positions within Lakeland Bancorp through their respective stock purchases.
Director Brian Gragnolati reportedly purchased 4,355 shares on March 15th at an average cost per share totaling up to $74,688 in value; his current share holdings directly reflects this investment move ($483,681). Similarly, Director James E.Hanson II has also invested personally via the purchase of 1,400 shares bought on March 1st, with a total value of $26,698.
Ultimately, based on this information and insider activity analysis, Lakeland Bancorp may be an institution worth keeping tabs on as it navigates an increasingly complex economic environment.
DA Davidson Provides Earnings Projections and Institutional Investor Behavior for Lakeland Bancorp, Inc. (NASDAQ:LBAI)
Lakeland Bancorp, Inc. (NASDAQ:LBAI) – DA Davidson, a highly respected investment firm, recently provided earnings per share (EPS) estimates for Lakeland Bancorp’s Q2 2023 report. According to the report issued on May 3rd, financial services provider LBAI is expected to post earnings of $0.41 per share for the quarter. DA Davidson analyst M. Navas arrived at these projections based on careful analysis of historical data and current market trends.
For those interested in LBAI’s long-term prospects, DA Davidson also issued estimates for FY2023 and FY2024 earnings at $1.55 EPS and $1.65 EPS respectively. Considering that the consensus estimate for Lakeland Bancorp’s current full-year earnings is $1.94 per share, these projections point towards steady growth in the coming years.
As for institutional investors’ behavior with regards to LBAI’s stock, Legal & General Group Plc increased its position by 2.0% during the fourth quarter while Arizona State Retirement System grew its stake by 3.9%. Perigon Wealth Management LLC and Raymond James Financial Services Advisors Inc. also increased their positions in the third and fourth quarters respectively.
In contrast to these investors increasing their stakes in LBAI, Great West Life Assurance Co. Can decreased its holdings by selling off 863 shares during Q1 2023.
At present, institutional investors and hedge funds own an impressive 57.71% of LBAI’s stock – an indication of confidence in this financial services provider’s performance.
The coming months will reveal if LBAI can meet or exceed projected earnings for Q2 and beyond – and if its appeal as an investment opportunity endures among seasoned professionals and new investors alike.