Lakeland Bancorp Inc. (LBAI) Reaches New 12-Month High at $12.93
Shares of Lakeland Bancorp Inc. (NASDAQ:LBAI) hit a new 52-week high during mid-day trading on Thursday . The company 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 Lakeland Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, May 4th.
The firm has a market cap of $536.53 million and a price-to-earnings ratio of 14.99. The firm has a 50 day moving average price of $11.85 and a 200-day moving average price of $11.04.
Lakeland Bancorp (NASDAQ:LBAI) last issued its quarterly earnings results on Friday, July 22nd. The financial services provider reported $0.26 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.02. Equities research analysts expect that Lakeland Bancorp Inc. will post $0.99 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, August 12th. Investors of record on Wednesday, August 3rd were given a dividend of $0.095 per share. This represents a $0.38 annualized dividend and a dividend yield of 2.92%. The ex-dividend date was Monday, August 1st.
In related news, EVP Timothy J. Matteson sold 4,500 shares of the business’s stock in a transaction that occurred on 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 directly owns 28,440 shares in the company, valued at $324,500.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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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