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

Laurentian Bank of Canada (TSE:LB) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$26.88 and traded as high as C$29.37. Laurentian Bank of Canada shares last traded at C$28.73, with a volume of 435,899 shares trading hands.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on LB. Jefferies Financial Group raised their target price on shares of Laurentian Bank of Canada from C$29.00 to C$30.00 and gave the stock a “hold” rating in a report on Monday, December 9th. Scotiabank boosted their target price on Laurentian Bank of Canada from C$30.00 to C$33.00 and gave the company a “sector perform” rating in a research report on Monday, December 9th. CIBC upped their target price on Laurentian Bank of Canada from C$28.00 to C$31.00 in a research note on Tuesday, November 26th. BMO Capital Markets raised their price target on Laurentian Bank of Canada from C$28.00 to C$31.00 in a research note on Monday, December 9th. Finally, National Bankshares upped their price objective on Laurentian Bank of Canada from C$25.00 to C$27.00 and gave the company an “underperform” rating in a research report on Monday, December 9th. Three equities research analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of C$28.67.

Laurentian Bank of Canada Stock Performance

The company has a market cap of C$1.27 billion, a price-to-earnings ratio of -46.50, a P/E/G ratio of 0.76 and a beta of 1.25. The company’s fifty day moving average is C$27.99 and its two-hundred day moving average is C$26.89.

Laurentian Bank of Canada Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, February 1st. Shareholders of record on Friday, January 3rd will be given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 6.52%. Laurentian Bank of Canada’s dividend payout ratio is currently -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.