Laurentian Bank of Canada (TSE:LB) Shares Cross Above 200 Day Moving Average - Here's What Happened

Shares of Laurentian Bank of Canada (TSE:LB - Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$29.20 and traded as high as C$33.92. Laurentian Bank of Canada shares last traded at C$33.57, with a volume of 504,555 shares traded.

Analysts Set New Price Targets

LB has been the subject of a number of recent analyst reports. Raymond James Financial upped their price objective on shares of Laurentian Bank of Canada from C$28.00 to C$30.00 and gave the stock a "market perform" rating in a research report on Tuesday, September 2nd. CIBC upped their price objective on shares of Laurentian Bank of Canada from C$33.00 to C$35.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 20th. Scotiabank upped their price objective on shares of Laurentian Bank of Canada from C$28.00 to C$32.00 and gave the stock a "sector perform" rating in a research report on Tuesday, June 3rd. National Bankshares reduced their price objective on shares of Laurentian Bank of Canada from C$27.00 to C$26.00 and set an "underperform" rating for the company in a research report on Tuesday, September 2nd. Finally, Veritas raised shares of Laurentian Bank of Canada to a "strong sell" rating in a research report on Monday, June 2nd. Four equities research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, Laurentian Bank of Canada has an average rating of "Reduce" and an average target price of C$30.57.

Laurentian Bank of Canada Stock Performance

The company has a market capitalization of C$1.49 billion, a PE ratio of 11.01, a PEG ratio of 0.76 and a beta of 1.54. The stock's 50 day moving average is C$31.23 and its 200 day moving average is C$29.20.

Laurentian Bank of Canada (TSE:LB - Get Free Report) last announced its quarterly earnings results on Friday, August 29th. The company reported C$0.73 EPS for the quarter, beating analysts' consensus estimates of C$0.72 by C$0.01. Laurentian Bank of Canada had a negative net margin of 0.30% and a negative return on equity of 0.20%. During the same quarter in the previous year, the company posted $0.88 EPS. On average, equities research analysts forecast that Laurentian Bank of Canada will post 3.8414986 EPS for the current fiscal year.

Laurentian Bank of Canada Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, November 1st. Investors of record on Wednesday, October 1st will be paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 5.6%. Laurentian Bank of Canada's payout ratio is currently 61.64%.

Laurentian Bank of Canada Company Profile

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.

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