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

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$27.28 and traded as high as C$29.69. Laurentian Bank of Canada shares last traded at C$29.18, with a volume of 274,410 shares trading hands.

Analyst Upgrades and Downgrades

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

Laurentian Bank of Canada Stock Up 2.3 %

The stock has a 50 day simple moving average of C$28.75 and a 200 day simple moving average of C$27.28. The company has a market cap of C$1.28 billion, a price-to-earnings ratio of -47.06, a PEG ratio of 0.76 and a beta of 1.25.

Laurentian Bank of Canada Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, February 1st. Investors of record on Friday, January 3rd will be given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 6.44%. The ex-dividend date of this dividend is Friday, January 3rd. 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.