Hsbc Holdings PLC Boosts Stock Position in Lakeland Bancorp, Inc. (NASDAQ:LBAI)

Hsbc Holdings PLC increased its stake in shares of Lakeland Bancorp, Inc. (NASDAQ:LBAI) by 3.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,924 shares of the financial services provider’s stock after purchasing an additional 1,866 shares during the quarter. Hsbc Holdings PLC owned approximately 0.09% of Lakeland Bancorp worth $859,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Inspire Investing LLC increased its position in Lakeland Bancorp by 3.9% during the 3rd quarter. Inspire Investing LLC now owns 24,317 shares of the financial services provider’s stock worth $307,000 after purchasing an additional 915 shares in the last quarter. Gateway Advisory LLC increased its position in Lakeland Bancorp by 1.4% during the 3rd quarter. Gateway Advisory LLC now owns 94,326 shares of the financial services provider’s stock worth $1,190,000 after purchasing an additional 1,319 shares in the last quarter. Swiss National Bank increased its position in Lakeland Bancorp by 1.2% during the 3rd quarter. Swiss National Bank now owns 135,785 shares of the financial services provider’s stock worth $1,714,000 after purchasing an additional 1,600 shares in the last quarter. Signaturefd LLC increased its position in Lakeland Bancorp by 212.5% during the 4th quarter. Signaturefd LLC now owns 2,597 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 1,766 shares in the last quarter. Finally, Lindbrook Capital LLC increased its position in Lakeland Bancorp by 4,356.0% during the 4th quarter. Lindbrook Capital LLC now owns 2,228 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 2,178 shares in the last quarter. Hedge funds and other institutional investors own 59.62% of the company’s stock.

Lakeland Bancorp Trading Up 1.6 %

LBAI traded up $0.20 during midday trading on Thursday, hitting $12.66. The company’s stock had a trading volume of 173,395 shares, compared to its average volume of 311,731. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.44. The firm has a market cap of $824.80 million, a P/E ratio of 9.79 and a beta of 0.82. The firm has a 50-day moving average price of $11.97 and a two-hundred day moving average price of $12.73. Lakeland Bancorp, Inc. has a 52-week low of $10.65 and a 52-week high of $16.00.

Lakeland Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Monday, April 29th will be issued a $0.145 dividend. This represents a $0.58 annualized dividend and a yield of 4.58%. The ex-dividend date is Friday, April 26th. Lakeland Bancorp’s dividend payout ratio (DPR) is 45.31%.

Analyst Ratings Changes

A number of research firms recently commented on LBAI. StockNews.com upgraded Lakeland Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, April 23rd. Keefe, Bruyette & Woods lowered their price target on Lakeland Bancorp from $16.65 to $14.15 and set a “market perform” rating for the company in a report on Tuesday, April 23rd.

About Lakeland Bancorp

Lakeland Bancorp, Inc operates as the bank holding company for Lakeland Bank that provides financial products and services for businesses and consumers. It provides commercial banking services, including savings, money market, and time accounts, as well as demand deposits. The company also offers lending services, including commercial real estate loans, commercial and industrial loans, short and medium term loans, lines of credit, letters of credit, inventory and accounts receivable financing, real estate construction loans, residential mortgage loans, small business administration loans, and merchant credit card services; financing solutions to small and medium-sized companies; online banking, mobile banking, and wire transfer services to the business community and municipal relationships; and cash management services, such as remote capture of deposits and overnight sweep repurchase agreements.