Insiders Were Right: LBAI Makes New 52-Week High

In trading on Tuesday, shares of Lakeland Bancorp, Inc. (LBAI) touched a new 52-week high of $12.29/share. That's a 27.09% rise, or $2.62 per share from the 52-week low of $9.67 set back on 10/01/2014. That means at today's intraday high, any investor who purchased LBAI stock any time over the past 52 weeks has an unrealized gain, including company insiders.

Over the past six months, insiders have been scooping up shares, and those bets are now paying off handsomely. As summarized by the table below, LBAI has seen 2 different instances of insiders buying over the trailing six month period.

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Ten Bargains You Can Buy Cheaper Than The Insiders Did »

Purchased Insider Title Shares Price/Share Value
05/01/2015 Bruce D. Bohuny Director 2,410 $11.43 $27,546.30
05/18/2015 Stephen R. Tilton Sr. Director 1,500 $11.81 $17,719.50
06/01/2015 Bruce D. Bohuny Director 663 $11.35 $7,525.05

The chart below shows where LBAI has traded over the past year, with the 50-day and 200-day moving averages included.

Lakeland Bancorp, Inc. Moving Averages Chart

In afternoon trading on Tuesday, LBAI shares are changing hands at $12.25/share, slightly below the new 52-week high.

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