Laurentian Bank of Canada (TSE:LB) Share Price Passes Above 200-Day Moving Average - Here's Why

Key Points

• Laurentian Bank of Canada's stock price has exceeded its 200-day moving average, with a high of C$32.20, and currently trades at C$32.08.
• The bank reported C$0.73 earnings per share for the last quarter, slightly surpassing analysts' estimates, but has seen a decrease from the previous year's C$0.88 per share.
• A quarterly dividend of $0.47 per share has been declared, which will be paid on November 1st, yielding an annualized dividend of 5.9% for shareholders.

Laurentian Bank of Canada (TSE:LB - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$28.93 and traded as high as C$32.20. Laurentian Bank of Canada shares last traded at C$32.08, with a volume of 257,618 shares changing hands.

Analyst Ratings Changes

Several equities analysts have recently weighed in on LB shares. Veritas upgraded Laurentian Bank of Canada to a "strong sell" rating in a report on Monday, June 2nd. National Bankshares reduced their price target on Laurentian Bank of Canada from C$27.00 to C$26.00 and set an "underperform" rating for the company in a report on Tuesday, September 2nd. Desjardins increased their price objective on Laurentian Bank of Canada from C$29.00 to C$30.00 and gave the company a "sell" rating in a research report on Wednesday, August 13th. CIBC increased their price objective on Laurentian Bank of Canada from C$33.00 to C$35.00 and gave the company a "neutral" rating in a research report on Wednesday, August 20th. Finally, Scotiabank increased their price objective on Laurentian Bank of Canada from C$28.00 to C$32.00 and gave the company a "sector perform" rating in a research report on Tuesday, June 3rd. Four equities research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Reduce" and a consensus price target of C$30.57.

Laurentian Bank of Canada Trading Down 1.3%

The company has a 50-day moving average of C$31.05 and a 200-day moving average of C$29.03. The company has a market capitalization of C$1.43 billion, a price-to-earnings ratio of 10.60, a price-to-earnings-growth ratio of 0.76 and a beta of 1.54.

Laurentian Bank of Canada (TSE:LB - Get Free Report) last announced its earnings results on Friday, August 29th. The company reported C$0.73 earnings per share (EPS) for the quarter, beating the consensus estimate 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 last year, the company posted $0.88 EPS. On average, research analysts expect that Laurentian Bank of Canada will post 3.8414986 EPS for the current year.

Laurentian Bank of Canada Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, November 1st. Investors of record on Wednesday, October 1st will be given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 5.8%. Laurentian Bank of Canada's dividend 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.