Laurentian Bank of Canada (TSE:LB) Share Price Crosses Above 200-Day Moving Average of $26.58

Laurentian Bank of Canada (TSE:LB) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$26.58 and traded as high as C$28.10. Laurentian Bank of Canada shares last traded at C$27.22, with a volume of 2,106,298 shares changing hands.

Analyst Ratings Changes

LB has been the topic of a number of research reports. Cibc World Mkts raised shares of Laurentian Bank of Canada to a “hold” rating in a research report on Wednesday, August 21st. CIBC cut their price target on shares of Laurentian Bank of Canada from C$30.00 to C$28.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 20th. Raymond James increased their price objective on shares of Laurentian Bank of Canada from C$26.00 to C$27.00 in a research note on Wednesday, September 4th. National Bankshares lowered their target price on Laurentian Bank of Canada from C$27.00 to C$26.00 and set an “underperform” rating on the stock in a research report on Monday, June 3rd. Finally, Jefferies Financial Group dropped their target price on Laurentian Bank of Canada from C$28.00 to C$26.00 and set a “hold” rating on the stock in a report on Thursday, June 6th. Three equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of C$27.01.

Laurentian Bank of Canada Stock Down 2.6 %

The business has a fifty day moving average price of C$26.37 and a 200-day moving average price of C$26.58. The company has a market cap of C$1.20 billion, a P/E ratio of -43.90, a PEG ratio of 0.76 and a beta of 1.24.

Laurentian Bank of Canada Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Tuesday, October 1st will be paid a $0.47 dividend. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $1.88 annualized dividend and a yield of 6.91%. Laurentian Bank of Canada’s dividend payout ratio (DPR) 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.