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

Laurentian Bank of Canada (TSE:LB) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred 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.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. CIBC raised their price objective on Laurentian Bank of Canada from C$28.00 to C$31.00 in a research note on Tuesday, November 26th. Jefferies Financial Group boosted their price target on shares of Laurentian Bank of Canada from C$29.00 to C$30.00 and gave the stock a “hold” rating in a report on Monday, December 9th. Scotiabank increased their price objective on shares of Laurentian Bank of Canada from C$30.00 to C$33.00 and gave the company a “sector perform” rating in a research note on Monday, December 9th. National Bankshares boosted their target price on Laurentian Bank of Canada from C$25.00 to C$27.00 and gave the stock an “underperform” rating in a research note on Monday, December 9th. Finally, Raymond James upped their target price on Laurentian Bank of Canada from C$27.00 to C$29.00 and gave the company a “market perform” rating in a report on Monday, December 9th. Three analysts have rated the stock with a sell rating and five have issued a hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of C$28.67.

Laurentian Bank of Canada Trading Up 0.0 %

The stock has a market capitalization of C$1.28 billion, a P/E ratio of -47.06, a P/E/G ratio of 0.76 and a beta of 1.25. The stock’s 50-day moving average price is C$28.85 and its two-hundred day moving average price is C$27.31.

Laurentian Bank of Canada Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, February 1st. Shareholders of record on Friday, January 3rd will be given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 6.44%. The ex-dividend date is Friday, January 3rd. Laurentian Bank of Canada’s dividend payout ratio is currently -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.