Lakeland Bancorp, Inc. (NASDAQ:LBAI) has been assigned a consensus recommendation of “Hold” from the six analysts that are currently covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $24.50.
LBAI has been the subject of several research analyst reports. Zacks Investment Research cut shares of Lakeland Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, February 14th. BidaskClub upgraded shares of Lakeland Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, January 31st. FIG Partners restated a “market-perform” rating on shares of Lakeland Bancorp in a report on Monday, January 29th. Finally, Keefe, Bruyette & Woods restated a “buy” rating and issued a $24.50 target price on shares of Lakeland Bancorp in a report on Friday, December 22nd.
In other news, Director Robert K. Nicholson III sold 37,227 shares of the company’s stock in a transaction on Tuesday, December 19th. The shares were sold at an average price of $20.04, for a total value of $746,029.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mark J. Fredericks sold 5,200 shares of the company’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $19.75, for a total transaction of $102,700.00. Following the completion of the sale, the director now owns 204,869 shares of the company’s stock, valued at approximately $4,046,162.75. The disclosure for this sale can be found here. In the last 90 days, insiders sold 71,928 shares of company stock valued at $1,438,159. Company insiders own 6.20% of the company’s stock.
Lakeland Bancorp (NASDAQ LBAI) traded down $0.30 during midday trading on Friday, reaching $19.55. 99,723 shares of the company’s stock traded hands, compared to its average volume of 121,190. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.52. Lakeland Bancorp has a 12 month low of $15.06 and a 12 month high of $21.90. The firm has a market cap of $944.71, a PE ratio of 18.05 and a beta of 0.86.
Lakeland Bancorp (NASDAQ:LBAI) last posted its quarterly earnings results on Friday, January 26th. The financial services provider reported $0.29 EPS for the quarter, hitting the consensus estimate of $0.29. Lakeland Bancorp had a net margin of 24.38% and a return on equity of 9.37%. The company had revenue of $48.16 million during the quarter, compared to analysts’ expectations of $48.21 million. sell-side analysts predict that Lakeland Bancorp will post 1.36 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Monday, February 5th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.05%. The ex-dividend date was Friday, February 2nd. Lakeland Bancorp’s payout ratio is 36.36%.
Lakeland Bancorp Company Profile
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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