The stock of Lakeland Bancorp, Inc. (NASDAQ:LBAI) hit a new 52-week high and has $22.29 target or 57.00% above today’s $14.20 share price. The 6 months bullish chart indicates low risk for the $635.55M company. The 1-year high was reported on Nov, 3 by Barchart.com. If the $22.29 price target is reached, the company will be worth $362.26M 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 109,143 shares traded hands. Lakeland Bancorp, Inc. (NASDAQ:LBAI) has risen 37.33% since April 1, 2016 and is uptrending. It has outperformed by 36.12% the S&P500.
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. $13.50 is the highest target while $12 is the lowest. The $12.75 average target is -10.21% below today’s ($14.2) stock price. Lakeland Bancorp has been the topic of 3 analyst reports since August 13, 2015 according to StockzIntelligence Inc. The firm has “Mkt Perform” rating by Raymond James given on Thursday, October 27.
According to Zacks Investment Research, “LAKELAND BANCORP INC. is a bank holding company engaged in general banking business.”
Insitutional Activity: The institutional sentiment decreased to 1.37 in 2016 Q2. Its down 1.05, from 2.42 in 2016Q1. The ratio worsened, 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.
Renaissance Tech Ltd Company last reported 256,102 shares in the company. The New York-based Alpine Woods Capital Invsts Limited Liability Co has invested 0.01% in Lakeland Bancorp, Inc. (NASDAQ:LBAI). Barclays Pcl accumulated 0% or 28,636 shares. Basswood Mngmt Limited Liability accumulated 397,571 shares or 0.26% of the stock. Moreover, Jpmorgan Chase And Co has 0% invested in Lakeland Bancorp, Inc. (NASDAQ:LBAI) for 106,749 shares. Ubs Asset Americas has 28,120 shares for 0% of their US portfolio. Foundry Prtn Ltd Liability Corporation has invested 0.15% of its portfolio in Lakeland Bancorp, Inc. (NASDAQ:LBAI). First Tru Advsrs Limited Partnership has invested 0% of its portfolio in Lakeland Bancorp, Inc. (NASDAQ:LBAI). The Texas-based Teacher Retirement Sys Of Texas has invested 0% in Lakeland Bancorp, Inc. (NASDAQ:LBAI). Palouse reported 20,047 shares or 0.09% of all its holdings. The United Kingdom-based Legal And General Gp Pcl has invested 0% in Lakeland Bancorp, Inc. (NASDAQ:LBAI). Mcrae Mngmt Inc holds 0.59% of its portfolio in Lakeland Bancorp, Inc. (NASDAQ:LBAI) for 112,654 shares. Moreover, Price T Rowe Assoc Md has 0% invested in Lakeland Bancorp, Inc. (NASDAQ:LBAI) for 18,137 shares. Vanguard Grp reported 1.19 million shares or 0% of all its holdings. Private Advisor Grp Ltd Com holds 0.06% or 134,649 shares in its portfolio.
Insider Transactions: Since May 25, 2016, the stock had 1 insider buy, and 4 insider sales for $658,168 net activity. Another trade for 5,000 shares valued at $57,500 was sold by DEUTSCH EDWARD B. On Monday, October 31 the insider MCCLURE STEWART E JR sold $508,303. Shares for $23,980 were bought by TILTON STEPHEN R SR on Wednesday, August 3. $51,345 worth of Lakeland Bancorp, Inc. (NASDAQ:LBAI) shares were sold by Matteson Timothy J.
More notable recent Lakeland Bancorp, Inc. (NASDAQ:LBAI) news were published by: Nasdaq.com which released: “Lakeland Bancorp, Inc. (LBAI) Ex-Dividend Date Scheduled for November 03, 2016” on November 02, 2016, also Globenewswire.com with their article: “Lakeland Bancorp Announces Pricing of $75 Million of 5.125% Subordinated Notes” published on September 30, 2016, Streetinsider.com published: “Form 4 LAKELAND BANCORP INC For: Oct 31 Filed by: MCCLURE STEWART E JR” on November 02, 2016. More interesting news about Lakeland Bancorp, Inc. (NASDAQ:LBAI) were released by: Globenewswire.com and their article: “Lakeland Bancorp Announces Closing of Acquisition of Pascack Bancorp” published on January 07, 2016 as well as Globenewswire.com‘s news article titled: “Lakeland Bancorp to Acquire Pascack Bancorp” with publication date: August 04, 2015.
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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