Lakeland Bancorp Inc. (LBAI) Sees Strong Trading Volume
Lakeland Bancorp Inc. (NASDAQ:LBAI) shares saw an uptick in trading volume on Wednesday . 134,527 shares were traded during mid-day trading, an increase of 121% from the previous session’s volume of 60,805 shares.The stock last traded at $12.78 and had previously closed at $12.69.
Separately, Zacks Investment Research raised shares of Lakeland Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, May 4th.
The stock has a market capitalization of $527.05 million and a price-to-earnings ratio of 14.72. The firm’s 50 day moving average price is $11.77 and its 200-day moving average price is $11.01.
Lakeland Bancorp (NASDAQ:LBAI) last issued its quarterly earnings results on Friday, July 22nd. The financial services provider reported $0.26 earnings per share (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 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 12th. Stockholders of record on Wednesday, August 3rd will be given a dividend of $0.095 per share. The ex-dividend date is Monday, August 1st. This represents a $0.38 dividend on an annualized basis and a dividend yield of 2.97%.
In other news, EVP Timothy J. Matteson sold 4,500 shares of Lakeland Bancorp stock in a transaction dated Wednesday, May 25th. The stock was sold at an average price of $11.41, for a total transaction of $51,345.00. Following the completion of the sale, the executive vice president now owns 28,440 shares in the company, valued at approximately $324,500.40. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.
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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