Lakeland Bancorp, Inc. (LBAI) To Go Ex-Dividend on April 26th

Lakeland Bancorp, Inc. (NASDAQ:LBAIGet Free Report) declared a quarterly dividend on Wednesday, April 17th, Zacks reports. Stockholders of record on Monday, April 29th will be paid a dividend of 0.145 per share by the financial services provider on Wednesday, May 8th. This represents a $0.58 dividend on an annualized basis and a dividend yield of 4.62%. The ex-dividend date of this dividend is Friday, April 26th.

Lakeland Bancorp has raised its dividend payment by an average of 5.1% annually over the last three years. Lakeland Bancorp has a payout ratio of 41.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Lakeland Bancorp to earn $1.15 per share next year, which means the company should continue to be able to cover its $0.58 annual dividend with an expected future payout ratio of 50.4%.

Lakeland Bancorp Stock Down 2.3 %

Shares of Lakeland Bancorp stock traded down $0.30 on Wednesday, reaching $12.55. 113,352 shares of the company were exchanged, compared to its average volume of 307,529. Lakeland Bancorp has a 1-year low of $10.65 and a 1-year high of $16.00. The company has a market cap of $817.63 million, a P/E ratio of 9.84 and a beta of 0.85. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.93 and a quick ratio of 0.93. The stock’s 50 day moving average price is $11.98 and its 200-day moving average price is $12.72.

Lakeland Bancorp (NASDAQ:LBAIGet Free Report) last posted its earnings results on Thursday, January 25th. The financial services provider reported $0.30 earnings per share for the quarter, hitting the consensus estimate of $0.30. The firm had revenue of $72.09 million during the quarter. Lakeland Bancorp had a return on equity of 7.40% and a net margin of 16.00%. As a group, equities analysts forecast that Lakeland Bancorp will post 1.07 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently weighed in on LBAI. upgraded Lakeland Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday. Keefe, Bruyette & Woods reduced their price objective on Lakeland Bancorp from $16.65 to $14.15 and set a “market perform” rating for the company in a research note on Tuesday.

View Our Latest Report on Lakeland Bancorp

About Lakeland Bancorp

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Lakeland Bancorp, Inc operates as the bank holding company for Lakeland Bank that provides financial products and services for businesses and consumers. It provides commercial banking services, including savings, money market, and time accounts, as well as demand deposits. The company also offers lending services, including commercial real estate loans, commercial and industrial loans, short and medium term loans, lines of credit, letters of credit, inventory and accounts receivable financing, real estate construction loans, residential mortgage loans, small business administration loans, and merchant credit card services; financing solutions to small and medium-sized companies; online banking, mobile banking, and wire transfer services to the business community and municipal relationships; and cash management services, such as remote capture of deposits and overnight sweep repurchase agreements.

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Dividend History for Lakeland Bancorp (NASDAQ:LBAI)

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