Lakeland Bancorp (LBAI) Earning Somewhat Positive News Coverage, Analysis Finds
News stories about Lakeland Bancorp (NASDAQ:LBAI) have been trending somewhat positive this week, according to Accern. The research firm scores the sentiment of press coverage by analyzing more than twenty million news and blog sources in real-time. Accern ranks coverage of companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Lakeland Bancorp earned a coverage optimism score of 0.13 on Accern’s scale. Accern also gave news stories about the financial services provider an impact score of 46.1206465120902 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the near term.
Shares of Lakeland Bancorp (LBAI) opened at 18.25 on Friday. Lakeland Bancorp has a one year low of $12.50 and a one year high of $20.88. The stock has a market capitalization of $864.17 million, a price-to-earnings ratio of 17.58 and a beta of 0.80. The firm’s 50-day moving average is $19.04 and its 200-day moving average is $19.33.
Lakeland Bancorp (NASDAQ:LBAI) last posted its quarterly earnings data on Thursday, July 20th. The financial services provider reported $0.28 EPS for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.02. The business had revenue of $47.53 million during the quarter, compared to analysts’ expectations of $46.39 million. Lakeland Bancorp had a return on equity of 9.21% and a net margin of 23.94%. Equities research analysts forecast that Lakeland Bancorp will post $1.10 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Monday, July 31st will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date of this dividend is Thursday, July 27th. Lakeland Bancorp’s dividend payout ratio (DPR) is presently 38.10%.
A number of brokerages have issued reports on LBAI. BidaskClub lowered shares of Lakeland Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Zacks Investment Research lowered shares of Lakeland Bancorp from a “buy” rating to a “hold” rating in a report on Thursday, June 29th. ValuEngine raised shares of Lakeland Bancorp from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Finally, Sandler O’Neill lowered shares of Lakeland Bancorp from a “buy” rating to a “hold” rating in a report on Friday, April 28th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $22.00.
In other news, Director Edward B. Deutsch sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $20.00, for a total value of $100,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark J. Fredericks sold 14,100 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $19.37, for a total value of $273,117.00. Following the completion of the sale, the director now owns 203,496 shares of the company’s stock, valued at $3,941,717.52. The disclosure for this sale can be found here. Insiders sold 48,129 shares of company stock valued at $957,235 over the last 90 days. Company insiders own 6.20% of the company’s stock.
Lakeland Bancorp Company Profile
Lakeland Bancorp, Inc is the bank holding company for Lakeland Bank (Lakeland). Lakeland operates under a state bank charter and provides full banking services. Lakeland generates commercial, mortgage and consumer loans and receives deposits from customers located in Northern and Central New Jersey. Lakeland also provides non-deposit products, such as securities brokerage services, including mutual funds and variable annuities.
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