Lakeland Bancorp Inc. (LBAI) Reaches New 1-Year High at $12.93
Shares of Lakeland Bancorp Inc. (NASDAQ:LBAI) reached a new 52-week high during trading on Thursday . The stock traded as high as $12.93 and last traded at $12.90, with a volume of 32,253 shares traded. The stock had previously closed at $12.78.
Separately, Zacks Investment Research upgraded shares of Lakeland Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, May 4th.
The company has a 50 day moving average of $11.77 and a 200-day moving average of $11.01. The company has a market capitalization of $531.58 million and a price-to-earnings ratio of 14.85.
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, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.02. On average, equities analysts anticipate 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 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 yield of 2.95%.
In other Lakeland Bancorp news, EVP Timothy J. Matteson sold 4,500 shares of the company’s stock in a transaction dated Wednesday, May 25th. The shares were sold at an average price of $11.41, for a total transaction of $51,345.00. Following the transaction, the executive vice president now directly owns 28,440 shares in the company, valued at approximately $324,500.40. The transaction was disclosed in a filing with the SEC, which is accessible 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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