Lakeland Bancorp, Inc. (NASDAQ:LBAI – Get Free Report) announced a quarterly dividend on Wednesday, April 17th, Zacks reports. Investors of record on Monday, April 29th will be paid a dividend of 0.145 per share by the financial services provider on Wednesday, May 8th. This represents a $0.58 dividend on an annualized basis and a dividend yield of 4.56%. The ex-dividend date is Friday, April 26th.
Lakeland Bancorp has increased its dividend by an average of 5.1% per year over the last three years. Lakeland Bancorp has a dividend payout ratio of 41.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Lakeland Bancorp to earn $1.15 per share next year, which means the company should continue to be able to cover its $0.58 annual dividend with an expected future payout ratio of 50.4%.
Lakeland Bancorp Stock Performance
Lakeland Bancorp stock traded down $0.14 during midday trading on Wednesday, reaching $12.71. 12,439 shares of the stock traded hands, compared to its average volume of 306,389. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.44. The firm has a fifty day moving average price of $11.97 and a two-hundred day moving average price of $12.72. The firm has a market cap of $828.06 million, a price-to-earnings ratio of 10.04 and a beta of 0.85. Lakeland Bancorp has a fifty-two week low of $10.65 and a fifty-two week high of $16.00.
Wall Street Analysts Forecast Growth
LBAI has been the subject of a number of research analyst reports. StockNews.com raised shares of Lakeland Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday. Keefe, Bruyette & Woods dropped their target price on shares of Lakeland Bancorp from $16.65 to $14.15 and set a “market perform” rating on the stock in a report on Tuesday.
Read Our Latest Research Report on LBAI
Lakeland Bancorp Company Profile
Lakeland Bancorp, Inc operates as the bank holding company for Lakeland Bank that provides financial products and services for businesses and consumers. It provides commercial banking services, including savings, money market, and time accounts, as well as demand deposits. The company also offers lending services, including commercial real estate loans, commercial and industrial loans, short and medium term loans, lines of credit, letters of credit, inventory and accounts receivable financing, real estate construction loans, residential mortgage loans, small business administration loans, and merchant credit card services; financing solutions to small and medium-sized companies; online banking, mobile banking, and wire transfer services to the business community and municipal relationships; and cash management services, such as remote capture of deposits and overnight sweep repurchase agreements.
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