Laurentian Bank of Canada (TSE:LB) Shares Cross Above 200-Day Moving Average of $26.52

Shares of Laurentian Bank of Canada (TSE:LB) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$26.52 and traded as high as C$26.89. Laurentian Bank of Canada shares last traded at C$26.84, with a volume of 356,683 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on LB shares. Raymond James boosted their price target on shares of Laurentian Bank of Canada from C$26.00 to C$27.00 in a research report on Wednesday, September 4th. Desjardins boosted their target price on shares of Laurentian Bank of Canada from C$25.00 to C$26.00 and gave the stock a “sell” rating in a report on Tuesday, August 6th. Jefferies Financial Group lowered their price target on shares of Laurentian Bank of Canada from C$28.00 to C$26.00 and set a “hold” rating for the company in a report on Thursday, June 6th. Cibc World Mkts raised Laurentian Bank of Canada to a “hold” rating in a research note on Wednesday, August 21st. Finally, CIBC decreased their price objective on 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. Three investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of C$27.01.

Laurentian Bank of Canada Stock Down 1.5 %

The firm has a 50 day moving average of C$26.47 and a 200-day moving average of C$26.52. The company has a market cap of C$1.18 billion, a P/E ratio of -43.29, a PEG ratio of 0.76 and a beta of 1.24.

Laurentian Bank of Canada (TSE:LB) last released its quarterly earnings data on Friday, August 30th. The company reported C$0.88 earnings per share for the quarter, beating the consensus estimate of C$0.85 by C$0.03. Laurentian Bank of Canada had a negative return on equity of 0.55% and a negative net margin of 1.64%. The firm had revenue of C$256.50 million during the quarter, compared to the consensus estimate of C$257.90 million. On average, research analysts predict that Laurentian Bank of Canada will post 3.837535 EPS for the current fiscal year.

Laurentian Bank of Canada Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, November 1st will be issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 7.00%. The ex-dividend date of this dividend is Tuesday, October 1st. Laurentian Bank of Canada’s payout ratio is -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.