Lakeland Bancorp, Inc. (NASDAQ:LBAI – Get Free Report) declared a quarterly dividend on Wednesday, April 17th, Zacks reports. Shareholders 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 annualized dividend and a yield of 4.51%. The ex-dividend date is Friday, April 26th.
Lakeland Bancorp has raised its dividend by an average of 5.1% annually over the last three years. Lakeland Bancorp has a dividend payout ratio of 41.1% indicating that its dividend is sufficiently covered by earnings. Equities 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 Price Performance
Lakeland Bancorp stock opened at $12.85 on Wednesday. The stock has a fifty day moving average of $11.97 and a 200-day moving average of $12.72. The stock has a market capitalization of $837.18 million, a P/E ratio of 10.04 and a beta of 0.85. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.93 and a current ratio of 0.93. Lakeland Bancorp has a 52 week low of $10.65 and a 52 week high of $16.00.
Analysts Set New Price Targets
Several research analysts have commented on the company. Keefe, Bruyette & Woods cut their target price on Lakeland Bancorp from $16.65 to $14.15 and set a “market perform” rating on the stock in a report on Tuesday. StockNews.com upgraded Lakeland Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday.
Read Our Latest Analysis on LBAI
Lakeland Bancorp Company Profile
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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