Lakeland Bancorp, Inc. (NASDAQ:LBAI) declared a quarterly dividend on Friday, October 27th, Wall Street Journal reports. Investors of record on Monday, November 6th will be given a dividend of 0.10 per share by the financial services provider on Wednesday, November 15th. This represents a $0.40 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date is Friday, November 3rd.
Lakeland Bancorp (NASDAQ:LBAI) last posted its earnings results on Thursday, October 26th. The financial services provider reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.01. The company had revenue of $47.57 million during the quarter, compared to analysts’ expectations of $47.79 million. Lakeland Bancorp had a return on equity of 9.20% and a net margin of 24.54%.
In other Lakeland Bancorp news, Director Edward B. Deutsch sold 5,000 shares of the firm’s stock in a transaction on Wednesday, September 20th. The stock was 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 available at the SEC website. Also, insider Robert A. Vandenbergh sold 12,738 shares of the firm’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $20.56, for a total value of $261,893.28. The disclosure for this sale can be found here. 6.20% of the stock is owned by company insiders.
Several research firms have issued reports on LBAI. Zacks Investment Research raised Lakeland Bancorp from a “hold” rating to a “buy” rating and set a $22.00 target price for the company in a research note on Tuesday, July 25th. BidaskClub cut Lakeland Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $22.00.
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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