Lakeland Bancorp price target lowered to $14 from $16 at DA Davidson

DA Davidson lowered the firm’s price target on Lakeland Bancorp to $14 from $16 and keeps a Neutral rating on the shares. The company’s Q4 results saw net interest margin pressure and weaker loan growth, the analyst tells investors in a research note. The results also profiled a weaker net interest margin trajectory on higher funding costs, reducing the firm’s expected FY24 EPS view by 13c to $1.07, the firm added.