Laurentian Bank of Canada (TSE:LB) Share Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Laurentian Bank of Canada (TSE:LB)’s share price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$31.10 and traded as high as C$32.92. Laurentian Bank of Canada shares last traded at C$32.47, with a volume of 146,187 shares traded.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Scotiabank raised their price target on Laurentian Bank of Canada from C$32.00 to C$33.00 in a research report on Friday, October 10th. National Bankshares decreased their target price on Laurentian Bank of Canada from C$27.00 to C$26.00 and set an “underperform” rating for the company in a research note on Tuesday, September 2nd. Desjardins raised their target price on Laurentian Bank of Canada from C$29.00 to C$30.00 and gave the company a “sell” rating in a report on Wednesday, August 13th. CIBC upped their price target on Laurentian Bank of Canada from C$33.00 to C$35.00 and gave the stock a “neutral” rating in a report on Wednesday, August 20th. Finally, Jefferies Financial Group increased their price objective on Laurentian Bank of Canada from C$29.00 to C$31.00 in a research report on Wednesday, August 13th. Four analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of C$30.71.

Laurentian Bank of Canada Trading Down 0.4%

The firm has a fifty day simple moving average of C$32.77 and a 200 day simple moving average of C$31.10. The stock has a market cap of C$1.44 billion, a price-to-earnings ratio of 10.65, a PEG ratio of 0.76 and a beta of 1.47.

Laurentian Bank of Canada (TSE:LB) last released its quarterly earnings data on Friday, August 29th. The company reported C$0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.72 by C$0.01. Laurentian Bank of Canada had a negative return on equity of 0.20% and a negative net margin of 0.30%.During the same quarter in the previous year, the firm earned $0.88 EPS. On average, equities analysts expect that Laurentian Bank of Canada will post 3.8414986 earnings per share for the current year.

Laurentian Bank of Canada Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, November 1st. Stockholders of record on Saturday, November 1st were paid a $0.47 dividend. The ex-dividend date was Wednesday, October 1st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 5.8%. Laurentian Bank of Canada’s dividend payout ratio is currently 61.64%.

About Laurentian Bank of Canada

Laurentian Bank of Canada provides personal banking, business banking and real estate and commercial financing to its personal, business, and institutional customers across Canada and the United States. The company reports three operating segments: personal, business services, and capital markets. The personal segment offers financial services to retail clients.