Somewhat Favorable News Coverage Somewhat Unlikely to Impact Lakeland Bancorp (LBAI) Stock Price
Media stories about Lakeland Bancorp (NASDAQ:LBAI) have been trending somewhat positive this week, Accern Sentiment Analysis reports. Accern ranks the sentiment of press coverage by monitoring more than 20 million blog and news sources. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Lakeland Bancorp earned a news sentiment score of 0.16 on Accern’s scale. Accern also assigned news stories about the financial services provider an impact score of 46.3094773234292 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the next several days.
Shares of Lakeland Bancorp (NASDAQ:LBAI) traded down 0.130% during mid-day trading on Monday, reaching $19.175. The company had a trading volume of 10,887 shares. Lakeland Bancorp has a one year low of $11.90 and a one year high of $20.88. The company has a market capitalization of $907.97 million, a price-to-earnings ratio of 18.473 and a beta of 0.80. The company has a 50 day moving average price of $19.19 and a 200 day moving average price of $19.31.
Lakeland Bancorp (NASDAQ:LBAI) last issued its earnings results on Thursday, July 20th. The financial services provider reported $0.28 EPS for the quarter, beating the consensus estimate of $0.26 by $0.02. Lakeland Bancorp had a return on equity of 9.35% and a net margin of 23.94%. The business had revenue of $47.53 million for the quarter, compared to the consensus estimate of $46.39 million. On average, analysts anticipate that Lakeland Bancorp will post $1.10 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Monday, July 31st will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, July 27th. This represents a $0.40 annualized dividend and a yield of 2.08%. Lakeland Bancorp’s dividend payout ratio is 38.10%.
A number of brokerages recently commented on LBAI. BidaskClub lowered Lakeland Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Zacks Investment Research upgraded Lakeland Bancorp from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a report on Tuesday, July 25th. ValuEngine upgraded Lakeland Bancorp from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Finally, Sandler O’Neill lowered Lakeland Bancorp from a “buy” rating to a “hold” rating in a report on Friday, April 28th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $22.00.
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In other news, CAO Timothy J. Matteson sold 2,650 shares of the firm’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $19.58, for a total value of $51,887.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Mark J. Fredericks sold 14,100 shares of the firm’s stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $19.37, for a total value of $273,117.00. Following the completion of the transaction, the director now owns 203,496 shares in the company, valued at $3,941,717.52. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 48,129 shares of company stock worth $957,235. Company insiders own 6.20% of the company’s stock.
About Lakeland Bancorp
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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