Laurentian Bank of Canada (TSE:LB) Stock Price Crosses Above 200 Day Moving Average – Here’s What Happened

Laurentian Bank of Canada (TSE:LB)’s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$26.39 and traded as high as C$26.44. Laurentian Bank of Canada shares last traded at C$26.08, with a volume of 224,114 shares traded.

Analyst Upgrades and Downgrades

LB has been the subject of a number of research analyst reports. CIBC dropped their price target on Laurentian Bank of Canada from C$30.00 to C$28.00 and set a “neutral” rating for the company in a research note on Tuesday, August 20th. Cibc World Mkts raised shares of Laurentian Bank of Canada to a “hold” rating in a research note on Wednesday, August 21st. Desjardins lifted their price objective on Laurentian Bank of Canada from C$25.00 to C$26.00 and gave the company a “sell” rating in a research report on Tuesday, August 6th. Finally, Raymond James increased their target price on Laurentian Bank of Canada from C$26.00 to C$27.00 in a research report on Wednesday, September 4th. Three analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. According to data from MarketBeat, Laurentian Bank of Canada presently has a consensus rating of “Hold” and an average target price of C$27.01.

Laurentian Bank of Canada Price Performance

The company has a market cap of C$1.15 billion, a P/E ratio of -42.06, a P/E/G ratio of 0.76 and a beta of 1.25. The stock’s 50-day moving average is C$26.73 and its two-hundred day moving average is C$26.39.

Laurentian Bank of Canada (TSE:LB) last posted its earnings results on Friday, August 30th. The company reported C$0.88 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.85 by C$0.03. The company had revenue of C$256.50 million for the quarter, compared to the consensus estimate of C$257.90 million. Laurentian Bank of Canada had a negative return on equity of 0.55% and a negative net margin of 1.64%. On average, analysts predict that Laurentian Bank of Canada will post 3.8414986 EPS for the current year.

Laurentian Bank of Canada Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, November 1st will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $1.88 annualized dividend and a yield of 7.21%. Laurentian Bank of Canada’s dividend payout ratio (DPR) is presently -303.23%.

About Laurentian Bank of Canada

Laurentian Bank of Canada, together with its subsidiaries, provides various financial services to personal, business, and institutional customers in Canada and the United States. It operates through three segments: Personal Banking, Commercial Banking, and Capital Markets. The Personal Banking segment offers financial services, such as financial advisory services to financial intermediaries; and operates digital direct-to-customer platform to retail clients.