Laurentian Bank of Canada (TSE:LB) Shares Cross Above 200-Day Moving Average – Should You Sell?

Laurentian Bank of Canada (TSE:LB)’s share price 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.

Analyst Ratings Changes

LB has been the topic of a number of recent analyst reports. CIBC increased their price objective on Laurentian Bank of Canada from C$28.00 to C$31.00 in a report on Tuesday, November 26th. Cibc World Mkts raised shares of Laurentian Bank of Canada to a “hold” rating in a report on Wednesday, August 21st. Jefferies Financial Group upped their target price on shares of 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. Scotiabank lifted 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 note on Monday, December 9th. Finally, Raymond James boosted their price target on shares of Laurentian Bank of Canada from C$27.00 to C$29.00 and gave the company a “market perform” 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. According to MarketBeat.com, Laurentian Bank of Canada currently has an average rating of “Hold” and an average target price of C$28.67.

Laurentian Bank of Canada Price Performance

The company has a market cap of C$1.26 billion, a price-to-earnings ratio of -46.34, a PEG ratio of 0.76 and a beta of 1.25. The business’s 50-day simple moving average is C$27.95 and its 200-day simple moving average is C$26.88.

Laurentian Bank of Canada Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, February 1st. Shareholders of record on Friday, January 3rd will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 6.54%. Laurentian Bank of Canada’s dividend payout ratio (DPR) is presently -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.