Lakeland Bancorp Inc. (LBAI) Sees Strong Trading Volume
Lakeland Bancorp Inc. (NASDAQ:LBAI) saw an uptick in trading volume on Thursday . 88,744 shares were traded during 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 cap of $574.18 million and a price-to-earnings ratio of 14.90. The stock has a 50-day moving average of $12.10 and a 200-day moving average of $11.12.
Lakeland Bancorp (NASDAQ:LBAI) last posted its quarterly earnings results on Friday, July 22nd. The financial services provider reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.02. On average, equities research analysts anticipate that Lakeland Bancorp Inc. will post $0.99 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, August 12th. Stockholders of record on Wednesday, August 3rd were paid a $0.095 dividend. The ex-dividend date of this dividend was Monday, August 1st. This represents a $0.38 annualized dividend and a dividend yield of 2.94%.
In other news, EVP Timothy J. Matteson sold 4,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 25th. The shares were sold at an average price of $11.41, for a total value 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Edward B. Deutsch sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, August 12th. The stock was sold at an average price of $13.00, for a total transaction of $65,000.00. 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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