Lakeland Bancorp, Inc. (NASDAQ:LBAI) to Issue $0.15 Quarterly Dividend

Lakeland Bancorp, Inc. (NASDAQ:LBAI) 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 4.52%. The ex-dividend date of this dividend is Friday, April 26th.

Lakeland Bancorp has raised its dividend payment by an average of 5.1% annually over the last three years. Lakeland Bancorp has a payout ratio of 41.1% indicating that its dividend is sufficiently covered by earnings. 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 0.1 %

Shares of NASDAQ LBAI opened at $12.84 on Thursday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.44. Lakeland Bancorp has a 12 month low of $10.65 and a 12 month high of $16.00. The firm has a market capitalization of $836.53 million, a PE ratio of 10.03 and a beta of 0.85. The firm has a fifty day simple moving average of $11.98 and a two-hundred day simple moving average of $12.72.

Lakeland Bancorp (NASDAQ:LBAI) last issued its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.30 earnings per share (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%. Equities analysts expect that Lakeland Bancorp will post 1.07 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently issued reports on LBAI shares. StockNews.com upgraded shares of Lakeland Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday. Keefe, Bruyette & Woods decreased 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 research note 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.