Somewhat Favorable News Coverage Somewhat Unlikely to Impact Lakeland Bancorp (LBAI) Stock Price
News coverage about Lakeland Bancorp (NASDAQ:LBAI) has trended somewhat positive recently, Accern reports. Accern identifies negative and positive media coverage by monitoring more than twenty million blog and news sources. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Lakeland Bancorp earned a media sentiment score of 0.19 on Accern’s scale. Accern also gave news articles about the financial services provider an impact score of 45.7503741076081 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the next several days.
Separately, Zacks Investment Research cut shares of Lakeland Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, September 20th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $22.00.
Shares of Lakeland Bancorp (NASDAQ:LBAI) opened at $20.40 on Friday. Lakeland Bancorp has a 52-week low of $15.06 and a 52-week high of $21.90. The firm has a market cap of $977.83, a P/E ratio of 18.94 and a beta of 0.78. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.95 and a quick ratio of 0.95.
Lakeland Bancorp (NASDAQ:LBAI) last announced its quarterly earnings results on Thursday, October 26th. The financial services provider reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.01. Lakeland Bancorp had a net margin of 24.54% and a return on equity of 9.12%. The firm had revenue of $47.57 million during the quarter, compared to analysts’ expectations of $47.79 million. research analysts expect that Lakeland Bancorp will post 1.12 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Monday, November 6th were given a $0.10 dividend. The ex-dividend date of this dividend was Friday, November 3rd. This represents a $0.40 annualized dividend and a dividend yield of 1.96%. Lakeland Bancorp’s payout ratio is presently 36.70%.
In related news, Director Edward B. Deutsch sold 5,000 shares of the stock in a transaction that occurred on Wednesday, September 20th. The shares were sold at an average price of $19.00, for a total transaction of $95,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Robert A. Vandenbergh sold 12,738 shares of the stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $20.56, for a total transaction of $261,893.28. The disclosure for this sale can be found here. Insiders sold a total of 21,014 shares of company stock valued at $422,413 in the last ninety days. Corporate 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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