LBAI Lakeland Bancorp

Lakeland Bancorp, Inc. is a bank holding company, which provision of lending, depository and related financial services. It also offers a broad range of consumer banking services, including checking accounts, savings accounts, interest-bearing checking accounts, money market accounts, certificates of deposit, internet banking, secured and unsecured loans, consumer installment loans, mortgage loans, and safe deposit services. Its loan portfolio comprises of commercial, secured by real estate; commercial, industrial, and other; equipment finance; real estate residential mortgage; real estate construction; and home equity and consumer. The company was founded in March 1989 and is headquartered in Oak Ridge, NJ.
Company profile
Ticker
LBAI
Exchange
CEO
Thomas Shara
Employees
Incorporated
Location
Fiscal year end
Sector
Industry (SIC)
SEC CIK
Corporate docs
IRS number
222953275
LBAI stock data
()
Calendar
8 Mar 21
17 Apr 21
31 Dec 21
Financial summary
Quarter (USD) |
Dec 20 | Sep 20 | Jun 20 | Mar 20 | |
---|---|---|---|---|---|
Revenue | |||||
Cost of revenue | |||||
Operating income | |||||
Operating margin | |||||
Net income | |||||
Net profit margin | |||||
Cash on hand | |||||
Change in cash | |||||
Diluted EPS |
Annual (USD) |
Dec 20 | Dec 19 | Dec 18 | Dec 17 | |
---|---|---|---|---|---|
Revenue | |||||
Cost of revenue | |||||
Operating income | |||||
Operating margin | |||||
Net income | |||||
Net profit margin | |||||
Cash on hand | |||||
Change in cash | |||||
Diluted EPS |
Financial data from company earnings reports.
Cash burn rate (estimated) | Burn method: Change in cash | Burn method: Operating income/loss | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
---|---|---|---|---|---|---|
Cash on hand (at last report) | 270.09M | 270.09M | 270.09M | 270.09M | 270.09M | 270.09M |
Cash burn (monthly) | 25.28M | 1.02M | (positive/no burn) | (positive/no burn) | (positive/no burn) | (positive/no burn) |
Cash used (since last report) | 90.16M | 3.65M | n/a | n/a | n/a | n/a |
Cash remaining | 179.93M | 266.44M | n/a | n/a | n/a | n/a |
Runway (months of cash) | 7.1 | 260.3 | n/a | n/a | n/a | n/a |
Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
17 Mar 21 | Mccracken Robert E | Common Stock | Other | Aquire J | Yes | No | 0 | 2,087 | 0 | 19,084 |
17 Mar 21 | Mccracken Robert E | Common Stock | Other | Aquire J | No | No | 0 | 42 | 0 | 46,913 |
1 Mar 21 | Ho-Sing-Loy Paul | Common Stock | Payment of exercise | Dispose F | No | No | 16.38 | 1,183 | 19.38K | 21,797 |
1 Mar 21 | John F Rath | Common Stock | Payment of exercise | Dispose F | No | No | 16.38 | 324 | 5.31K | 34,748 |
1 Mar 21 | Ellen Lalwani | Common Stock | Payment of exercise | Dispose F | No | No | 16.38 | 467 | 7.65K | 28,968 |
27 Feb 21 | Ronald E Schwarz | Common Stock | Payment of exercise | Dispose F | No | No | 15.68 | 3,463 | 54.3K | 106,969 |
Institutional ownership Q4 2020
Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.
58.1% owned by funds/institutions
13F holders |
Current |
---|---|
Total holders | 151 |
Opened positions | 18 |
Closed positions | 10 |
Increased positions | 50 |
Reduced positions | 37 |
13F shares |
Current |
---|---|
Total value | 491.7M |
Total shares | 29.34M |
Total puts | 0 |
Total calls | 0 |
Total put/call ratio | – |
Largest owners |
Shares | Value |
---|---|---|
BLK Blackrock | 3.99M | $50.63M |
Dimensional Fund Advisors | 3.16M | $40.19M |
Vanguard | 2.5M | $31.79M |
Systematic Financial Management | 1.27M | $16.13M |
NTRS Northern Trust | 1.25M | $15.81M |
Banc Funds | 1.13M | $14.35M |
STT State Street | 1.09M | $13.83M |
Maltese Capital Management | 1.02M | $12.93M |
Renaissance Technologies | 915.5K | $11.63M |
Kennedy Capital Management | 837.41K | $10.64M |
Financial report summary
?Risks
- Our allowance for credit losses on loans may not be adequate to cover actual losses.
- The concentration of our commercial real estate loan portfolio may subject us to increased regulatory analysis, or otherwise adversely affect our business and operating results.
- Our mortgage banking operations expose us to risks that are different than the risks associated with our retail banking operations.
- We are subject to various lending and other economic risks that could adversely affect our results of operations and financial condition.
- We may suffer losses in our loan portfolio despite our underwriting practices.
- We are subject to litigation, regulatory enforcement and reputation risk due to our participation in PPP and we are subject to the risk that the SBA may not fund some or all PPP loan guarantees.
- We are subject to interest rate risk and variations in interest rates that may negatively affect our financial performance.
- A decrease in our ability to borrow funds could adversely affect our liquidity.
- Public funds deposits are an important source of funds for us and a reduced level of those deposits may hurt our profits.
- The transition from LIBOR as a reference rate may adversely impact our net income.
- The occurrence of any failure, breach, or interruption in service involving our systems or those of our service providers could damage our reputation, cause losses, increase our expenses, and result in a loss of customers, an increase in regulatory scrutiny, or expose us to civil litigation and possibly financial liability, any of which could adversely impact our financial condition, results of operations and the market price of our stock.
- The inability to stay current with technological change could adversely affect our business model.
- Our operations rely on certain third party vendors.
- Lakeland’s ability to pay dividends is subject to regulatory limitations which, to the extent that our holding company requires such dividends in the future, may affect our holding company’s ability to pay its obligations and pay dividends to shareholders.
- The effect of future tax reform is uncertain and may adversely affect our business.
- Severe weather, acts of terrorism and other external events could impact our ability to conduct business.
- The outbreak of COVID-19 could continue to materially, adversely affect our business operations, financial condition, results of operations and cash flows.
- An outbreak of any other epidemic, pandemic or outbreak of a highly contagious disease, occurring in the United States or in the geographies in which we conduct operations could materially adversely affect our business operations, financial condition, results of operations and cash flows.
- We face intense competition from other financial services and financial services technology companies, and competitive pressures could adversely affect our business or financial performance.
- The Company may incur impairment to goodwill.
- We could be adversely affected by failure in our internal controls.
- Our risk management strategies may not be fully effective in mitigating our risk exposures in all market environments or against all types of risk.
- The inability to attract and retain key personnel could adversely affect our Company’s business.
- The accuracy of our financial statements and related disclosures could be affected if the judgments, assumptions or estimates used in our critical accounting policies are inaccurate.
- If we do not successfully integrate any banks that we may acquire in the future, the combined company may be adversely affected.
Content analysis
?
Positive | ||
Negative | ||
Uncertain | ||
Constraining | ||
Legalese | ||
Litigous | ||
Readability |
H.S. sophomore Avg
|
New words:
accredited, analytical, array, ascertain, attend, automatically, bringing, bucket, CAA, calendar, care, career, catch, CD, CDC, CETI, compassion, conceptual, conditionally, confidence, costly, cultivate, cultivating, culture, dedicated, dedication, deficiency, deflation, deliver, deny, disapproving, disbursement, disease, distancing, EIDL, elevated, encompassed, enrolled, epidemic, expert, explicitly, extremely, fill, Flexibility, flexible, FOMC, forgiven, foster, fourteen, frequently, gave, GDP, geopolitical, guaranty, healthy, HHS, highly, hire, hired, hypothetical, idiosyncratic, implicitly, Injury, inspecting, intervening, introduction, job, Leader, leadership, learning, leave, lifted, likelihood, listening, lobby, lookback, machinery, magnitude, Main, Milton, mission, multifamily, noncredit, obligor, online, onset, OSHA, outbreak, pandemic, Paycheck, payroll, PCD, postponing, PPP, pretax, produce, professional, professionalism, profile, prolonged, pursue, recourse, recruitment, reimbursement, remitted, resume, resumed, role, rose, RSU, safeguard, sanitation, settlement, social, speed, spending, staffing, statute, strongly, superior, suspend, suspension, teach, team, temporarily, timeframe, trillion, UCC, unconditionally, unknown, unprecedented, unsuccessful, urgent, vaccine, variance, vintage, vital, Voice, watchlist, whichever, widespread, women, worker, workforce, worse, worsen
Removed:
adherence, allocate, amortize, anticipation, Assistant, attached, authorize, Banknorth, Bureau, clarification, climate, commencement, comment, compatible, conclusive, conformance, Counsel, countercyclical, de, deductibility, depth, differentiate, earliest, eliminate, elimination, empowered, enforce, enterprise, entitled, Esq, excise, exhibiting, explicit, failed, failing, FHA, FICO, forthcoming, golden, GSE, hearing, heightening, hybrid, implicit, implied, imprudent, increasingly, interpret, Israel, landscape, Lessor, mandating, nonconsolidated, novo, numerical, orientation, parachute, planning, postage, Presidential, proprietary, provisioning, QM, rebuttable, refer, reliable, resolution, resultant, round, rulemaking, sector, Sovereign, sweeping, tasked, TD, technical, thereof, thereunder, traditional, Truth, unchanged, VA, vote
Financial reports
10-K
2020 FY
Annual report
8 Mar 21
10-Q
2020 Q3
Quarterly report
6 Nov 20
10-Q
2020 Q2
Quarterly report
7 Aug 20
10-Q
2020 Q1
Quarterly report
11 May 20
10-K/A
2019 FY
Annual report (amended)
6 Mar 20
10-K
2019 FY
Annual report
2 Mar 20
10-Q
2019 Q3
Quarterly report
8 Nov 19
10-Q
2019 Q2
Quarterly report
8 Aug 19
10-Q
2019 Q1
Quarterly report
9 May 19
10-K
2018 FY
Annual report
1 Mar 19
Current reports
8-K
Results of Operations and Financial Condition
28 Jan 21
8-K
Lakeland Bancorp Announces Quarterly and Year-End 2020 Earnings; Updates Loan Deferrals and Share Repurchase Plan
28 Jan 21
8-K
Results of Operations and Financial Condition
22 Oct 20
8-K
Lakeland Bancorp Announces Third Quarter Results
22 Oct 20
8-K
Results of Operations and Financial Condition
23 Jul 20
8-K
Lakeland Bancorp Announces Second Quarter Results
23 Jul 20
8-K
Submission of Matters to a Vote of Security Holders
21 May 20
8-K
Results of Operations and Financial Condition
30 Apr 20
8-K
Lakeland Bancorp Announces First Quarter Results
30 Apr 20
8-K
Amendments to Articles of Incorporation or Bylaws
9 Apr 20
Registration and prospectus
S-3ASR
Automatic shelf registration
27 Mar 20
425
Business combination disclosure
26 Nov 18
424B3
Prospectus supplement
5 Nov 18
S-4/A
Registration of securities issued in business combination transactions (amended)
2 Nov 18
425
Business combination disclosure
25 Oct 18
S-4
Registration of securities issued in business combination transactions
5 Oct 18
425
Business combination disclosure
23 Aug 18
S-8
Registration of securities for employees
20 Jun 18
S-3/A
Shelf registration (amended)
15 Dec 16
424B5
Prospectus supplement for primary offering
8 Dec 16
Proxies
DEFA14A
Additional proxy soliciting materials
9 Apr 21
DEF 14A
Definitive proxy
9 Apr 21
DEF 14A
Definitive proxy
17 Apr 20
DEF 14A
Definitive proxy
10 Apr 19
DEFA14A
Additional proxy soliciting materials
29 Apr 18
DEF 14A
Definitive proxy
2 Apr 18
PRE 14A
Preliminary proxy
21 Mar 18
DEF 14A
Definitive proxy
2 Apr 17
DEF 14A
Definitive proxy
11 Apr 16
DEF 14A
Definitive proxy
9 Apr 15
Other
EFFECT
Notice of effectiveness
6 Nov 18
CORRESP
Correspondence with SEC
1 Nov 18
UPLOAD
Letter from SEC
10 Oct 18
CT ORDER
Confidential treatment order
2 Apr 18
EFFECT
Notice of effectiveness
22 Dec 16
CORRESP
Correspondence with SEC
21 Dec 16
CORRESP
Correspondence with SEC
15 Dec 16
UPLOAD
Letter from SEC
30 Nov 16
EFFECT
Notice of effectiveness
12 May 16
CORRESP
Correspondence with SEC
10 May 16
Ownership
4
LAKELAND BANCORP / ROBERT E MCCRACKEN ownership change
17 Mar 21
4
LAKELAND BANCORP / John F Rath ownership change
3 Mar 21
4
LAKELAND BANCORP / Ellen Lalwani ownership change
3 Mar 21
4
LAKELAND BANCORP / Paul Ho-Sing-Loy ownership change
3 Mar 21
4
LAKELAND BANCORP / James M. Nigro ownership change
2 Mar 21
4
LAKELAND BANCORP / RONALD E SCHWARZ ownership change
2 Mar 21
4
LAKELAND BANCORP / Timothy J Matteson ownership change
2 Mar 21
4
LAKELAND BANCORP / Timothy J Matteson ownership change
26 Feb 21
4
LAKELAND BANCORP / THOMAS SHARA ownership change
26 Feb 21
4
LAKELAND BANCORP / RONALD E SCHWARZ ownership change
26 Feb 21
Reddit threads
Daily Discussion Thread - February 4th, 2021
4 Feb 21
Daily Discussion Thread - January 22nd, 2021
22 Jan 21
Daily Discussion Thread - January 21st, 2021
21 Jan 21
Daily Discussion Thread - January 20th, 2021
20 Jan 21
Daily Discussion Thread - January 19th, 2021
19 Jan 21
Daily Discussion Thread - November 2nd, 2020
2 Nov 20
Daily Discussion Thread - October 30th, 2020
30 Oct 20