Laurentian Bank of Canada (TSE:LB) Stock Crosses Above 200-Day Moving Average - Should You Sell?

Key Points

• Shares of Laurentian Bank of Canada crossed above their 200-day moving average, reaching as high as C$30.80 before last trading at C$30.65.
• Multiple analysts have adjusted their price targets, with Jefferies Financial Group raising their target to C$31.00 and CIBC increasing theirs to C$35.00, while ratings vary from "Hold" to "Sell."
• The bank has a market capitalization of C$1.35 billion and a negative price-to-earnings ratio of -244.46, indicating current financial challenges.

Laurentian Bank of Canada (TSE:LB - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$28.67 and traded as high as C$30.80. Laurentian Bank of Canada shares last traded at C$30.65, with a volume of 130,088 shares traded.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on LB shares. Scotiabank upped their target price 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. Jefferies Financial Group upped their target price on shares of Laurentian Bank of Canada from C$29.00 to C$31.00 in a research report on Wednesday, August 13th. National Bankshares dropped their target price on shares of Laurentian Bank of Canada from C$28.00 to C$27.00 and set an "underperform" rating for the company in a research report on Friday, August 15th. Veritas upgraded shares of Laurentian Bank of Canada to a "strong sell" rating in a research report on Monday, June 2nd. Finally, CIBC upped their target price 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. 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 presently has an average rating of "Reduce" and an average target price of C$30.43.

Laurentian Bank of Canada Price Performance

The company's 50-day simple moving average is C$30.89 and its 200 day simple moving average is C$28.73. The firm has a market cap of C$1.34 billion, a P/E ratio of -243.26, a price-to-earnings-growth ratio of 0.76 and a beta of 1.25.

Laurentian Bank of Canada (TSE:LB - Get Free Report) last released its quarterly earnings data on Friday, August 29th. The company reported C$0.73 EPS for the quarter, beating the consensus estimate 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 last year, the company earned $0.88 earnings per share. Analysts anticipate that Laurentian Bank of Canada will post 3.8414986 EPS for the current fiscal year.

Laurentian Bank of Canada Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, November 1st. Stockholders of record on Wednesday, October 1st will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 6.2%. Laurentian Bank of Canada's dividend payout ratio (DPR) is presently -1,499.45%.

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.