Lakeland Bancorp, Inc. Plans Quarterly Dividend of $0.15 (NASDAQ:LBAI)

Lakeland Bancorp, Inc. (NASDAQ:LBAI) declared a quarterly dividend on Wednesday, April 17th, Zacks reports. Stockholders 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 annualized dividend and a dividend yield of 4.56%. The ex-dividend date of this dividend is Friday, April 26th.

Lakeland Bancorp has increased its dividend payment by an average of 5.1% annually over the last three years. Lakeland Bancorp has a dividend payout ratio of 41.1% meaning its dividend is sufficiently covered by earnings. Equities 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

Shares of LBAI traded down $0.14 during midday trading on Wednesday, reaching $12.71. 12,439 shares of the stock were exchanged, compared to its average volume of 306,389. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.44. Lakeland Bancorp has a twelve month low of $10.65 and a twelve month high of $16.00. The company has a market cap of $828.06 million, a P/E ratio of 10.04 and a beta of 0.85. The stock’s 50 day simple moving average is $11.97 and its 200 day simple moving average is $12.72.

Lakeland Bancorp (NASDAQ:LBAI) last issued its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.30 EPS for the quarter, hitting analysts’ consensus estimates of $0.30. Lakeland Bancorp had a return on equity of 7.40% and a net margin of 16.00%. The company had revenue of $72.09 million for the quarter. On average, sell-side analysts expect that Lakeland Bancorp will post 1.07 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on LBAI shares. StockNews.com upgraded Lakeland Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday. Keefe, Bruyette & Woods decreased their target price on Lakeland Bancorp from $16.65 to $14.15 and set a “market perform” rating on the stock in a research report on Tuesday.

About Lakeland Bancorp

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.