Lakeland Bancorp Inc. (LBAI) Sets New 12-Month High at $12.69
Lakeland Bancorp Inc. (NASDAQ:LBAI) hit a new 52-week high on Friday . The company traded as high as $12.69 and last traded at $12.63, with a volume of 63,141 shares trading hands. The stock had previously closed at $12.25.
Separately, Zacks Investment Research raised Lakeland Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, May 4th.
The firm has a 50 day moving average of $11.68 and a 200 day moving average of $10.97. The firm has a market capitalization of $520.04 million and a price-to-earnings 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 forecast that Lakeland Bancorp Inc. will post $0.99 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 12th. Shareholders of record on Wednesday, August 3rd will be given a $0.095 dividend. The ex-dividend date is Monday, August 1st. This represents a $0.38 dividend on an annualized basis and a yield of 3.01%.
In other Lakeland Bancorp news, EVP Timothy J. Matteson sold 4,500 shares of Lakeland Bancorp stock in a transaction on Wednesday, May 25th. The stock was sold at an average price of $11.41, for a total value of $51,345.00. Following the sale, the executive vice president now owns 28,440 shares in the company, valued at $324,500.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
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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