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

Shares of Laurentian Bank of Canada (TSE:LB) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$39.11 and traded as high as C$40.39. Laurentian Bank of Canada shares last traded at C$40.36, with a volume of 72,238 shares traded.

Analyst Upgrades and Downgrades

Separately, Desjardins dropped their price target on Laurentian Bank of Canada from C$50.00 to C$40.00 and set a “tender” rating on the stock in a research report on Monday, February 9th. Two investment analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Strong Sell” and an average target price of C$36.44.

Laurentian Bank of Canada Trading Up 0.2%

The business has a 50-day moving average price of C$40.23 and a 200-day moving average price of C$39.11. The firm has a market cap of C$1.80 billion, a P/E ratio of 26.91, a P/E/G ratio of 0.76 and a beta of 1.23.

Laurentian Bank of Canada (TSE:LB) last posted its quarterly earnings results on Friday, February 27th. The company reported C$0.65 earnings per share (EPS) for the quarter. Laurentian Bank of Canada had a return on equity of 2.86% and a net margin of 3.72%.The business had revenue of C$251.56 million for the quarter. On average, equities analysts anticipate that Laurentian Bank of Canada will post 3.8414986 earnings per share for the current fiscal year.

Laurentian Bank of Canada Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 1st. Stockholders of record on Friday, May 1st were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Wednesday, April 1st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 4.7%. Laurentian Bank of Canada’s dividend payout ratio is presently 125.33%.

About Laurentian Bank of Canada

Founded in Montreal in 1846, Laurentian Bank is committed to serving its customers and fostering deep relationships with specialized groups. Laurentian Bank runs operations across Canada – primarily in Québec and Ontario – as well as in the United States and competes where it sees market opportunity and has an edge, while harnessing the power of partnerships and collaboration.