Trading Report: Today, Lakeland Bancorp Inc. (LBAI) Director Sold $333,000.00 in Stock

Today, Lakeland Bancorp Inc. (LBAI) Director Sold $333,000.00 in Stock

Lakeland Bancorp Inc. (NASDAQ:LBAI) Director Edward B. Deutsch sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, November 22nd. The shares were sold at an average price of $16.65, for a total value of $333,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Edward B. Deutsch also recently made the following trade(s): On Friday, November 18th, Edward B. Deutsch sold 19,010 shares of Lakeland Bancorp stock. The shares were sold at an average price of $16.42, for a total transaction of $312,144.20. On Wednesday, November 16th, Edward B. Deutsch sold 990 shares of Lakeland Bancorp stock. The shares were sold at an average price of $16.65, for a total transaction of $16,483.50. On Tuesday, November 15th, Edward B. Deutsch sold 10,000 shares of Lakeland Bancorp stock. The shares were sold at an average price of $16.50, for a total transaction of $165,000.00.

Shares of Lakeland Bancorp Inc. (NASDAQ:LBAI) opened at 17.65 on Friday. The company has a 50-day moving average of $14.60 and a 200 day moving average of $12.88. Lakeland Bancorp Inc. has a 52 week low of $9.72 and a 52 week high of $17.65. The firm has a market capitalization of $784.40 million, a P/E ratio of 19.37 and a beta of 0.79.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 15th. Stockholders of record on Monday, November 7th were issued a dividend of $0.095 per share. The ex-dividend date was Thursday, November 3rd. This represents a $0.38 annualized dividend and a dividend yield of 2.15%. Lakeland Bancorp’s dividend payout ratio is currently 41.76%.

Several institutional investors have recently made changes to their positions in the stock. Mcrae Capital Management Inc. raised its position in shares of Lakeland Bancorp by 235.4% in the third quarter. Mcrae Capital Management Inc. now owns 377,884 shares of the financial services provider’s stock valued at $5,305,000 after buying an additional 265,230 shares in the last quarter. Basswood Capital Management L.L.C. raised its position in shares of Lakeland Bancorp by 100.5% in the second quarter. Basswood Capital Management L.L.C. now owns 397,571 shares of the financial services provider’s stock valued at $4,524,000 after buying an additional 199,276 shares in the last quarter. Maltese Capital Management LLC raised its position in shares of Lakeland Bancorp by 45.5% in the second quarter. Maltese Capital Management LLC now owns 496,300 shares of the financial services provider’s stock valued at $5,648,000 after buying an additional 155,100 shares in the last quarter. Emerald Acquisition Ltd. bought a new position in shares of Lakeland Bancorp during the second quarter valued at $1,152,000. Finally, Dimensional Fund Advisors LP raised its position in shares of Lakeland Bancorp by 5.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,846,766 shares of the financial services provider’s stock valued at $21,016,000 after buying an additional 88,346 shares in the last quarter. Hedge funds and other institutional investors own 41.90% of the company’s stock.

Separately, Raymond James Financial Inc. downgraded shares of Lakeland Bancorp from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 27th. They noted that the move was a valuation call.

About Lakeland Bancorp

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