Lakeland Bancorp Hits New 1-Year Low at $9.91 (LBAI)
Lakeland Bancorp (NASDAQ:LBAI) hit a new 52-week low during mid-day trading on Friday , AmericanBankingNews.com reports. The company traded as low as $9.91 and last traded at $10.02, with a volume of 23,706 shares changing hands. The stock had previously closed at $10.04.
LBAI has been the subject of a number of recent research reports. Analysts at Raymond James reiterated a “strong-buy” rating on shares of Lakeland Bancorp in a research note on Wednesday, July 23rd. They now have a $12.50 price target on the stock, up previously from $12.00. Analysts at Macquarie reiterated a “neutral” rating on shares of Lakeland Bancorp in a research note on Wednesday, July 23rd. They now have a $12.00 price target on the stock, down previously from $12.50.
The stock has a 50-day moving average of $10.49 and a 200-day moving average of $10.57. The company has a market cap of $380.7 million and a P/E ratio of 13.18.
Lakeland Bancorp (NASDAQ:LBAI) last released its earnings data on Tuesday, July 22nd. 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.
The company also recently declared a quarterly dividend, which is scheduled for Friday, August 15th. Stockholders of record on Monday, August 4th will be given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date of this dividend is Thursday, July 31st. This is a boost from Lakeland Bancorp’s previous quarterly dividend of $0.07.
Lakeland Bancorp, Inc (NASDAQ:LBAI) is a bank holding company of Lakeland Bank (the Bank or Lakeland).
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