Lakeland Bancorp Director Buys $52,750 in Stock (LBAI)
Lakeland Bancorp (NASDAQ:LBAI) Director Stephen R. Sr Tilton, Sr. bought 5,000 shares of the stock in a transaction dated Thursday, June 5th. The stock was purchased at an average price of $10.55 per share, with a total value of $52,750.00. Following the acquisition, the director now directly owns 720,595 shares in the company, valued at approximately $7,602,277. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link.
A number of analysts have recently weighed in on LBAI shares. Analysts at Keefe, Bruyette & Woods upgraded shares of Lakeland Bancorp from a “market perform” rating to an “outperform” rating in a research note on Tuesday, April 29th. They now have a $13.00 price target on the stock, up previously from $12.00. Analysts at Raymond James cut their price target on shares of Lakeland Bancorp from $13.50 to $12.50 in a research note on Monday, April 28th. They now have a “strong-buy” rating on the stock.
Lakeland Bancorp (NASDAQ:LBAI) traded up 2.26% during mid-day trading on Friday, hitting $10.87. The stock had a trading volume of 39,594 shares. Lakeland Bancorp has a 52 week low of $9.181 and a 52 week high of $12.0952. The stock’s 50-day moving average is $10.12 and its 200-day moving average is $10.85. The company has a market cap of $412.1 million and a price-to-earnings ratio of 14.42.
Lakeland Bancorp (NASDAQ:LBAI) last issued its quarterly earnings data on Monday, April 28th. The company reported $0.20 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.20. Analysts expect that Lakeland Bancorp will post $0.82 EPS for the current fiscal year.
Lakeland Bancorp, Inc (NASDAQ:LBAI) is a bank holding company of Lakeland Bank (the Bank or Lakeland).
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