Stock of The Day: Could Lakeland Bancorp, Inc. See a Reversal After Breaking Its 52-Week High?

Stock of The Day: Could Lakeland Bancorp, Inc. See a Reversal After Breaking Its 52 Week High?

The stock of Lakeland Bancorp, Inc. (NASDAQ:LBAI) hit a new 52-week high and has $26.73 target or 61.00% above today’s $16.60 share price. The 5 months bullish chart indicates low risk for the $739.97M company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $26.73 price target is reached, the company will be worth $451.38M 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 46,484 shares traded hands. Lakeland Bancorp, Inc. (NASDAQ:LBAI) has risen 49.60% since April 19, 2016 and is uptrending. It has outperformed by 45.74% 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. Lakeland Bancorp has been the topic of 3 analyst reports since August 13, 2015 according to StockzIntelligence Inc. The firm has “Mkt Perform” rating given on Thursday, October 27 by Raymond James.

According to Zacks Investment Research, “LAKELAND BANCORP INC. is a bank holding company engaged in general banking business.”

Insitutional Activity: The institutional sentiment increased to 1.48 in Q2 2016. Its up 0.11, from 1.37 in 2016Q1. The ratio improved, 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.
Brandywine Management Ltd accumulated 0% or 14,637 shares. Blackrock Limited Liability accumulated 20,006 shares or 0% of the stock. Alpine Woods Capital Invsts Ltd Liability holds 0.01% of its portfolio in Lakeland Bancorp, Inc. (NASDAQ:LBAI) for 13,000 shares. Alliancebernstein Limited Partnership has 0% invested in the company for 29,445 shares. Connors Investor Inc accumulated 0.04% or 17,833 shares. Invesco Ltd last reported 10,899 shares in the company. Parametric Portfolio Associates Ltd Limited Liability Company last reported 72,420 shares in the company. Renaissance last reported 256,102 shares in the company. Banc Funds Commerce Ltd Liability accumulated 1.07% or 1.61 million shares. Genesee Valley Tru Communication last reported 11,412 shares in the company. Credit Suisse Ag accumulated 88,406 shares or 0% of the stock. Rhumbline Advisers holds 0% or 47,147 shares in its portfolio. First Manhattan holds 0.01% of its portfolio in Lakeland Bancorp, Inc. (NASDAQ:LBAI) for 86,500 shares. California Public Employees Retirement Systems, a California-based fund reported 134,600 shares. Regentatlantic Cap Limited Liability Corporation accumulated 0.06% or 55,010 shares.

Insider Transactions: Since May 25, 2016, the stock had 1 insider purchase, and 9 sales for $2.43 million net activity. $23,980 worth of Lakeland Bancorp, Inc. (NASDAQ:LBAI) was bought by TILTON STEPHEN R SR on Wednesday, August 3. On Wednesday, November 2 DEUTSCH EDWARD B sold $861,271 worth of the stock or 55,604 shares. $51,345 worth of Lakeland Bancorp, Inc. (NASDAQ:LBAI) shares were sold by Matteson Timothy J. $224,754 worth of shares were sold by MCCLURE STEWART E JR on Tuesday, November 8.

More 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 published the news titled: “Lakeland Bancorp Announces Closing of Acquisition of Harmony Bank” on July 01, 2016. Globenewswire.com‘s news article titled: “Lakeland Bancorp Announces Closing of Acquisition of Pascack Bancorp” with publication date: January 07, 2016 was also an interesting one.

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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