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

Key Points

• Laurentian Bank of Canada stock has recently crossed above its 200-day moving average, reaching a high of C$32.64, with the latest trade at C$32.36.
• Analysts have varied opinions on the stock, with targets ranging from C$26.00 to C$35.00 and a consensus rating of "Reduce."
• The company announced a quarterly dividend of $0.47 per share, yielding 5.8%, to be paid on November 1st.

Laurentian Bank of Canada (TSE:LB - Get Free Report) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$29.78 and traded as high as C$32.64. Laurentian Bank of Canada shares last traded at C$32.36, with a volume of 222,711 shares.

Wall Street Analyst Weigh In

Several research firms have issued reports on LB. Desjardins upped their price target 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 research note on Wednesday, August 20th. Raymond James Financial raised their price target on Laurentian Bank of Canada from C$28.00 to C$30.00 and gave the company a "market perform" rating in a research report on Tuesday, September 2nd. National Bankshares decreased their price objective on Laurentian Bank of Canada from C$27.00 to C$26.00 and set an "underperform" rating on the stock in a report on Tuesday, September 2nd. Finally, Jefferies Financial Group lifted their target price on shares of Laurentian Bank of Canada from C$29.00 to C$31.00 in a research note on Wednesday, August 13th. Four analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, Laurentian Bank of Canada presently has a consensus rating of "Reduce" and a consensus price target of C$30.57.

Laurentian Bank of Canada Stock Down 1.1%

The company's 50 day moving average price is C$31.75 and its 200-day moving average price is C$29.78. The stock has a market cap of C$1.43 billion, a P/E ratio of 10.61, a P/E/G ratio of 0.76 and a beta of 1.43.

Laurentian Bank of Canada (TSE:LB - Get Free Report) last posted its quarterly earnings results on Friday, August 29th. The company reported C$0.73 EPS for the quarter, topping 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 period in the previous year, the business earned $0.88 earnings per share. Equities research analysts anticipate that Laurentian Bank of Canada will post 3.8414986 earnings per share for the current year.

Laurentian Bank of Canada Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Saturday, November 1st. Investors of record on Saturday, November 1st will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date of this dividend is Wednesday, October 1st. Laurentian Bank of Canada's dividend payout ratio is 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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