Lakeland Bancorp Inc. (LBAI) Reaches New 1-Year High at $12.69
Lakeland Bancorp Inc. (NASDAQ:LBAI) shares hit a new 52-week high during trading on Friday . The company traded as high as $12.69 and last traded at $12.63, with a volume of 63,141 shares changing hands. The stock had previously closed at $12.25.
Separately, Zacks Investment Research raised shares of Lakeland Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, May 4th.
The company’s 50-day moving average price is $11.68 and its 200 day moving average price is $10.97. The firm has a market capitalization of $520.04 million and a PE ratio of 14.53.
Lakeland Bancorp (NASDAQ:LBAI) last posted its earnings results on Friday, July 22nd. The financial services provider reported $0.26 EPS for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.02. On average, analysts expect that Lakeland Bancorp Inc. will post $0.99 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 12th. Investors of record on Wednesday, August 3rd will be given a $0.095 dividend. This represents a $0.38 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date of this dividend is Monday, August 1st.
In related news, EVP Timothy J. Matteson sold 4,500 shares of the stock in a transaction on Wednesday, May 25th. The shares were sold at an average price of $11.41, for a total value of $51,345.00. Following the transaction, the executive vice president now directly owns 28,440 shares of the company’s stock, valued at approximately $324,500.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Lakeland Bancorp, Inc is the bank holding company 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 customers located in Northern and Central New Jersey. Lakeland also provides non-deposit products, such as securities brokerage services, including mutual funds and variable annuities.
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