Lakeland Bancorp, Inc. (LBAI) to Issue Quarterly Dividend of $0.15 on May 8th

Lakeland Bancorp, Inc. (NASDAQ:LBAI) 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 annualized dividend and a dividend yield of 4.60%. The ex-dividend date of this dividend is Friday, April 26th.

Lakeland Bancorp has increased its dividend payment by an average of 5.1% per year over the last three years. Lakeland Bancorp has a payout ratio of 41.1% meaning its dividend is sufficiently covered by earnings. Equities 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 1.9 %

NASDAQ:LBAI traded down $0.24 on Wednesday, hitting $12.61. The stock had a trading volume of 26,327 shares, compared to its average volume of 306,562. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.93 and a current ratio of 0.93. The stock has a market cap of $821.54 million, a P/E ratio of 9.84 and a beta of 0.85. Lakeland Bancorp has a 1 year low of $10.65 and a 1 year high of $16.00. The firm’s fifty day simple moving average is $11.98 and its two-hundred day simple moving average is $12.72.

Lakeland Bancorp (NASDAQ:LBAI) last released its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.30 EPS for the quarter, hitting the consensus estimate of $0.30. The company had revenue of $72.09 million during the quarter. Lakeland Bancorp had a net margin of 16.00% and a return on equity of 7.40%. Analysts predict that Lakeland Bancorp will post 1.07 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on LBAI shares. StockNews.com raised shares of Lakeland Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday. Keefe, Bruyette & Woods cut their price target on shares of Lakeland Bancorp from $16.65 to $14.15 and set a “market perform” rating for the company in a report on Tuesday.

About Lakeland Bancorp

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.