Lakeland Bancorp, Inc. [LBAI] stock is trading at $11.97, down -1.07%. In order to assess the stock’s recent performance, you can check whether its short-term value is rising or falling. The LBAI shares have gain 4.45% over the last week, with a monthly amount glided 3.37%, and seem to be holding up well over a long-time horizon.
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On 25, March 2024, Provident Financial Services, Inc. Receives FDIC and New Jersey Department of Banking and Insurance Approvals for its Merger with Lakeland Bancorp, Inc. In a post published today on Yahoo Finance, Provident Financial Services, Inc. (NYSE:PFS) (“Provident”), the parent company of Provident Bank, and Lakeland Bancorp, Inc. (Nasdaq: LBAI) (“Lakeland”), the parent company of Lakeland Bank, today announced receipt of regulatory approvals from the Federal Deposit Insurance Corporation and the New Jersey Department of Banking and Insurance for Provident and Lakeland to complete their previously announced merger. With these approvals, the only pending regulatory approval required to complete the merger is the approval of the Board of Governors of the Federal Reserve System.
From an analyst’s perspective:
Lakeland Bancorp, Inc. [NASDAQ: LBAI] stock has seen the most recent analyst activity on July 07, 2022, when Raymond James downgraded its rating to a Outperform and also revised its price target to $17 from $20. Previously, Raymond James upgraded its rating to Strong Buy on April 28, 2021, and elevated its price target to $23. On June 17, 2020, upgrade upgraded it’s rating to Outperform but maintained its price target of $13 on the stock. Piper Sandler upgraded its rating to a Overweight and increased its price target to $13 on May 01, 2020. DA Davidson initiated its recommendation with a Buy. Boenning & Scattergood upgraded its rating to Outperform for this stock on April 30, 2019, but kept the price target unchanged to $19. In a note dated October 26, 2018, FIG Partners upgraded an Outperform rating on this stock.
Lakeland Bancorp, Inc. [LBAI] stock has fluctuated between $10.65 and $16.00 over the past year. Currently, Wall Street analysts expect the stock to reach $20 within the next 12 months. Lakeland Bancorp, Inc. [NASDAQ: LBAI] shares were valued at $11.97 at the most recent close of the market. An investor can expect a potential return of 67.08% based on the average LBAI price forecast.
Analyzing the LBAI fundamentals
Lakeland Bancorp, Inc. [NASDAQ:LBAI] reported sales of 514.58M for the trailing twelve months, which represents a growth of 18.21%. Gross Profit Margin for this corporation currently stands at 1.0% with Operating Profit Margin at 0.66%, Pretax Profit Margin comes in at 0.3%, and Net Profit Margin reading is 0.23%. To continue investigating profitability, this company’s Return on Assets is posted at 0.01, Equity is 0.07 and Total Capital is 0.03. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 1.06.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 11.84 points at the first support level, and at 11.71 for the second support level. However, for the 1st resistance point, the stock is sitting at 12.11, and for the 2nd resistance point, it is at 12.25.
Lakeland Bancorp, Inc. [LBAI] reported earnings per share of $0.3 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.32/share, meaning a difference of -$0.02 and a surprise factor of -6.30%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were $0.34 per share as compared to estimates of $0.34 per share, a difference of $0 representing a surprise of 0.00%.
Ratios To Look Out For
For context, Lakeland Bancorp, Inc.’s Current Ratio is 0.10. Considering the valuation of this stock, the price to sales ratio is 1.52, the price to book ratio is 0.67 and price to earnings (TTM) ratio is 9.31.
Transactions by insiders
Recent insider trading involved MCCRACKEN ROBERT E, Director, that happened on Feb 15 ’24 when 3661.0 shares were purchased. EVP Chief Information Officer, Ho-Sing-Loy Paul completed a deal on Aug 15 ’23 to sell 2000.0 shares. Meanwhile, Director DEACON MARY ANN bought 10.0 shares on Aug 02 ’23.
