Lakeland Bancorp Inc. (LBAI) Hits New 12-Month High at $13.24
Lakeland Bancorp Inc. (NASDAQ:LBAI) shares reached a new 52-week high during trading on Tuesday . The company traded as high as $13.24 and last traded at $13.09, with a volume of 54,128 shares changing hands. The stock had previously closed at $13.01.
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 company’s 50-day moving average price is $12.15 and its 200-day moving average price is $11.14. The company has a market cap of $580.40 million and a PE ratio of 15.06.
Lakeland Bancorp (NASDAQ:LBAI) last released its earnings results on Friday, July 22nd. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.02. On average, analysts predict 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 was paid on Friday, August 12th. Shareholders of record on Wednesday, August 3rd were given a dividend of $0.095 per share. The ex-dividend date of this dividend was Monday, August 1st. This represents a $0.38 dividend on an annualized basis and a yield of 2.92%.
In other Lakeland Bancorp news, Director Edward B. Deutsch sold 5,000 shares of Lakeland Bancorp stock in a transaction that occurred on Friday, August 12th. The shares were sold at an average price of $13.00, for a total transaction of $65,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Timothy J. Matteson sold 4,500 shares of Lakeland Bancorp 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 transaction, the executive vice president now directly owns 28,440 shares in the company, valued at $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.