Lakeland Bancorp, Inc. Plans Quarterly Dividend of $0.13 (NASDAQ:LBAI)

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Lakeland Bancorp, Inc. (NASDAQ:LBAI) declared a quarterly dividend on Friday, July 26th, Fidelity reports. Stockholders of record on Monday, August 5th will be paid a dividend of 0.125 per share by the financial services provider on Thursday, August 15th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date of this dividend is Friday, August 2nd.

Lakeland Bancorp has increased its dividend by an average of 10.5% per year over the last three years and has increased its dividend every year for the last 9 years. Lakeland Bancorp has a payout ratio of 37.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Lakeland Bancorp to earn $1.40 per share next year, which means the company should continue to be able to cover its $0.50 annual dividend with an expected future payout ratio of 35.7%.

Lakeland Bancorp stock opened at $14.83 on Friday. The company has a market cap of $766.42 million, a price-to-earnings ratio of 11.07 and a beta of 0.87. The business’s 50 day simple moving average is $15.93 and its 200 day simple moving average is $15.92. Lakeland Bancorp has a 12 month low of $13.77 and a 12 month high of $19.70. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46.

LBAI has been the topic of several recent research reports. Boenning Scattergood upgraded Lakeland Bancorp from a “neutral” rating to an “outperform” rating and set a $19.00 target price on the stock in a research report on Tuesday, April 30th. FIG Partners restated an “outperform” rating on shares of Lakeland Bancorp in a research report on Monday, May 6th. BidaskClub raised shares of Lakeland Bancorp from a “sell” rating to a “hold” rating in a report on Friday, June 28th. Zacks Investment Research cut shares of Lakeland Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Finally, ValuEngine raised shares of Lakeland Bancorp from a “strong sell” rating to a “sell” rating in a report on Tuesday, April 30th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $19.00.

Lakeland Bancorp Company Profile

Lakeland Bancorp, Inc operates as the bank holding company for Lakeland Bank that provides various banking products and services for individuals and small to medium sized businesses. It offers commercial banking services, including savings, money market, and time accounts, as well as demand deposits; lending solutions, such as short and medium term loans, lines of credit, letters of credit, inventory and accounts receivable financing, real estate construction loans, mortgage loans, small business administration loans, commercial real estate loans, commercial and industrial loans, and equipment financing, as well as merchant credit card services; and Internet banking, mobile banking, wire transfer, night depository, and cash management services.

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Dividend History for Lakeland Bancorp (NASDAQ:LBAI)

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