Insider Selling: Lakeland Bancorp EVP Unloads 2,000 Shares of Stock (LBAI)
Lakeland Bancorp (NASDAQ:LBAI) EVP Timothy J. Matteson unloaded 2,000 shares of the 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 transaction, the executive vice president now directly owns 25,238 shares in the company, valued at approximately $255,156. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shares of Lakeland Bancorp (NASDAQ:LBAI) opened at 10.21 on Monday. Lakeland Bancorp has a 52 week low of $9.5238 and a 52 week high of $12.0952. The stock’s 50-day moving average is $10.35 and its 200-day moving average is $10.48. The company has a market cap of $387.1 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 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.
A number of research firms have recently commented on LBAI. 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, Inc (NASDAQ:LBAI) is a bank holding company of Lakeland Bank (the Bank or Lakeland).
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