Lakeland Bancorp EVP Unloads $20,220 in Stock (LBAI)
Lakeland Bancorp (NASDAQ:LBAI) EVP Timothy J. Matteson sold 2,000 shares of Lakeland Bancorp stock on the open market in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $10.11, for a total transaction of $20,220.00. Following the completion of the sale, the executive vice president now directly owns 25,238 shares of the company’s stock, valued at approximately $255,156. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
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.
Lakeland Bancorp (NASDAQ:LBAI) traded down 0.49% on Thursday, hitting $10.14. The stock had a trading volume of 18,103 shares. Lakeland Bancorp has a 1-year low of $9.5238 and a 1-year high of $12.0952. The stock’s 50-day moving average is $10.37 and its 200-day moving average is $10.49. The company has a market cap of $384.4 million and a price-to-earnings ratio of 13.37.
Lakeland Bancorp (NASDAQ:LBAI) last posted its quarterly earnings results on Tuesday, July 22nd. The company reported $0.20 earnings per share (EPS) for the quarter, meeting the analysts’ consensus estimate of $0.20. On average, analysts predict that Lakeland Bancorp will post $0.82 earnings per share 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 2.94%. 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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