Lakeland Bancorp, Inc. Announces 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 4.62%. The ex-dividend date is Friday, April 26th.

Lakeland Bancorp has raised its dividend by an average of 5.1% annually over the last three years. Lakeland Bancorp has a payout ratio of 41.1% indicating that 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 Price Performance

Shares of NASDAQ LBAI traded down $0.30 during mid-day trading on Wednesday, reaching $12.55. The company had a trading volume of 113,352 shares, compared to its average volume of 307,529. 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 stock has a market cap of $817.63 million, a PE ratio of 9.84 and a beta of 0.85. The company has a 50-day moving average price of $11.98 and a two-hundred day moving average price of $12.72. Lakeland Bancorp has a 1-year low of $10.65 and a 1-year high of $16.00.

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

Analyst Ratings Changes

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

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.