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

Shares of Laurentian Bank of Canada (TSE:LB) crossed 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.

Analysts Set New Price Targets

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

Laurentian Bank of Canada Price Performance

The stock’s fifty day moving average price is C$27.99 and its 200-day moving average price is C$26.89. The firm has a market cap of C$1.27 billion, a PE ratio of -46.50, a price-to-earnings-growth ratio of 0.76 and a beta of 1.25.

Laurentian Bank of Canada Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, February 1st. Investors of record on Friday, January 3rd will be paid 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 presently -303.23%.

Laurentian Bank of Canada Company Profile

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.