Lakeland Bancorp Inc. (LBAI) Sees Strong Trading Volume
Lakeland Bancorp Inc. (NASDAQ:LBAI) shares saw unusually-strong trading volume on Thursday . Approximately 88,744 shares were traded during mid-day trading, an increase of 34% from the previous session’s volume of 66,400 shares.The stock last traded at $12.96 and had previously closed at $12.78.
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 stock has a market capitalization of $576.40 million and a P/E ratio of 14.96. The stock’s 50-day moving average is $12.06 and its 200 day moving average is $11.10.
Lakeland Bancorp (NASDAQ:LBAI) last issued its quarterly earnings results on Friday, July 22nd. The financial services provider reported $0.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.02. On average, equities research analysts expect that Lakeland Bancorp Inc. will post $0.99 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 12th. Investors of record on Wednesday, August 3rd were paid a $0.095 dividend. This represents a $0.38 annualized dividend and a yield of 2.93%. The ex-dividend date was Monday, August 1st.
In related news, Director Edward B. Deutsch sold 5,000 shares of the stock in a transaction that occurred on Friday, August 12th. The shares were sold at an average price of $13.00, for a total value of $65,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Timothy J. Matteson sold 4,500 shares of the stock in a transaction that occurred on Wednesday, May 25th. The shares were sold at an average price of $11.41, for a total transaction of $51,345.00. Following the completion of the transaction, the executive vice president now directly owns 28,440 shares of the company’s stock, valued at approximately $324,500.40. The disclosure for this sale can be found here.
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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