Lakeland Bancorp, Inc. Declares Quarterly Dividend of $0.15 (NASDAQ:LBAI)

Lakeland Bancorp, Inc. (NASDAQ:LBAI - Get Free Report) announced a quarterly dividend on Wednesday, April 17th, Zacks reports. Shareholders of record on Monday, April 29th will be given a dividend of 0.145 per share by the financial services provider on Wednesday, May 8th. This represents a $0.58 dividend on an annualized basis and a yield of 4.52%. The ex-dividend date of this dividend is Friday, April 26th.

Lakeland Bancorp has raised its dividend by an average of 5.1% per year over the last three years. Lakeland Bancorp has a dividend 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 Performance

NASDAQ LBAI traded down $0.01 during midday trading on Wednesday, hitting $12.84. The company had a trading volume of 504,364 shares, compared to its average volume of 312,667. The stock has a market cap of $836.58 million, a price-to-earnings ratio of 10.03 and a beta of 0.85. Lakeland Bancorp has a fifty-two week low of $10.65 and a fifty-two week high of $16.00. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.44. 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 - Get Free Report) last released its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.30 EPS for the quarter, meeting analysts' consensus estimates of $0.30. Lakeland Bancorp had a net margin of 16.00% and a return on equity of 7.40%. The firm had revenue of $72.09 million for the quarter. Equities analysts forecast that Lakeland Bancorp will post 1.07 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on LBAI shares. Keefe, Bruyette & Woods dropped their target price 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. StockNews.com raised shares of Lakeland Bancorp from a "sell" rating to a "hold" rating 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.