Insider Buying: Robert K. Nicholson III Purchases 10,000 Shares of Lakeland Bancorp Stock (LBAI)
Lakeland Bancorp (NASDAQ:LBAI) Director Robert K. Nicholson III bought 10,000 shares of Lakeland Bancorp stock in a transaction dated Wednesday, August 6th. The stock was purchased at an average cost of $10.06 per share, with a total value of $100,600.00. Following the acquisition, the director now directly owns 82,221 shares in the company, valued at approximately $827,143. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.
Several analysts have recently commented on the stock. 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.
Lakeland Bancorp (NASDAQ:LBAI) traded down 0.50% during mid-day trading on Thursday, hitting $10.03. 22,801 shares of the company’s stock traded hands. Lakeland Bancorp has a 1-year low of $9.5238 and a 1-year high of $12.0952. The stock has a 50-day moving average of $10.44 and a 200-day moving average of $10.52. The company has a market cap of $380.3 million and a price-to-earnings ratio of 13.23.
Lakeland Bancorp (NASDAQ:LBAI) last posted its quarterly earnings results on Tuesday, July 22nd. The company reported $0.20 earnings per share for the quarter, meeting the analysts’ 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. Shareholders 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 positive change 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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