Lakeland Bancorp EVP Sells $20,220 in Stock (LBAI)
Lakeland Bancorp (NASDAQ:LBAI) EVP Timothy J. Matteson unloaded 2,000 shares of the company’s stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $10.11, for a total value 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
A number of analysts have recently weighed in on LBAI shares. 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.
Shares of Lakeland Bancorp (NASDAQ:LBAI) traded up 0.20% on Friday, hitting $10.14. The stock had a trading volume of 25,406 shares. Lakeland Bancorp has a 52 week low of $9.5238 and a 52 week high of $12.0952. The stock has a 50-day moving average of $10.35 and a 200-day moving average of $10.48. The company has a market cap of $384.4 million and a price-to-earnings ratio of 13.28.
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 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. Investors 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 2.96%. The ex-dividend date of this dividend is Thursday, July 31st. This is an increase 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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