Media stories about Lakeland Bancorp (NASDAQ:LBAI) have been trending somewhat positive this week, according to Accern Sentiment Analysis. The research group identifies negative and positive press coverage by analyzing more than 20 million blog and news sources in real time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Lakeland Bancorp earned a news sentiment score of 0.12 on Accern’s scale. Accern also assigned news coverage about the financial services provider an impact score of 46.8235014138819 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the near term.
A number of analysts have commented on the stock. BidaskClub cut shares of Lakeland Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Zacks Investment Research cut shares of Lakeland Bancorp from a “buy” rating to a “hold” rating in a research report on Thursday, June 29th. Finally, ValuEngine raised shares of Lakeland Bancorp from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $22.00.
Lakeland Bancorp (LBAI) opened at 18.15 on Tuesday. The stock’s 50 day moving average is $18.68 and its 200-day moving average is $19.21. Lakeland Bancorp has a 52-week low of $13.12 and a 52-week high of $20.88. The company has a market cap of $859.44 million, a PE ratio of 17.49 and a beta of 0.80.
Lakeland Bancorp (NASDAQ:LBAI) last announced its quarterly earnings results on Thursday, July 20th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.02. Lakeland Bancorp had a net margin of 23.94% and a return on equity of 9.21%. The company had revenue of $47.53 million for the quarter, compared to analysts’ expectations of $46.39 million. Equities research analysts predict that Lakeland Bancorp will post $1.10 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Monday, July 31st were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend was Thursday, July 27th. Lakeland Bancorp’s dividend payout ratio is currently 38.10%.
In related news, Director Edward B. Deutsch sold 5,000 shares of the business’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $20.00, for a total transaction of $100,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Stephen R. Sr Tilton, Sr. sold 13,505 shares of the business’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $20.14, for a total transaction of $271,990.70. Following the transaction, the director now owns 701,022 shares in the company, valued at approximately $14,118,583.08. The disclosure for this sale can be found here. Insiders have sold 34,413 shares of company stock worth $681,593 in the last quarter. 6.20% of the stock is owned by corporate insiders.
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About Lakeland Bancorp
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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