Lakeland Bancorp Inc. (LBAI) Sees Large Volume Increase
Shares of Lakeland Bancorp Inc. (NASDAQ:LBAI) saw an uptick in trading volume on Thursday . 92,472 shares traded hands during trading, an increase of 25% from the previous session’s volume of 74,173 shares.The stock last traded at $13.67 and had previously closed at $13.37.
Separately, Zacks Investment Research upgraded Lakeland Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, May 4th.
The stock’s 50 day moving average is $12.30 and its 200-day moving average is $11.19. The firm has a market cap of $605.73 million and a PE ratio of 15.72.
Lakeland Bancorp (NASDAQ:LBAI) last posted its 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 forecast that Lakeland Bancorp Inc. will post $0.99 EPS for the current fiscal year.
The company also recently announced 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 annualized dividend and a dividend yield of 2.79%.
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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
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.