Lakeland Bancorp Inc. (LBAI) Trading Down 1.5%
Lakeland Bancorp Inc. (NASDAQ:LBAI) shares were down 1.5% during trading on Monday . The company traded as low as $13.48 and last traded at $13.58, with a volume of 53,404 shares trading hands. The stock had previously closed at $13.79.
Separately, Zacks Investment Research upgraded Lakeland Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, May 4th.
The stock has a market cap of $603.51 million and a PE ratio of 15.66. The company’s 50-day moving average price is $12.43 and its 200 day moving average price is $11.25.
Lakeland Bancorp (NASDAQ:LBAI) last released its quarterly earnings results on Friday, July 22nd. The financial services provider reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.02. Equities research 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. Stockholders of record on Wednesday, August 3rd were given a $0.095 dividend. The ex-dividend date was Monday, August 1st. This represents a $0.38 dividend on an annualized basis and a dividend yield of 2.80%.
In other 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 value of $65,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.