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

Laurentian Bank of Canada logo with Financial Services background

Key Points

  • Shares of Laurentian Bank of Canada surpassed its 200-day moving average of C$29.99, reaching a high of C$33.74 during trading on Thursday.
  • The dividend declared by Laurentian Bank for November 1st is $0.47, resulting in an annualized yield of 5.9%.
  • Analysts have mixed ratings on the stock, with a consensus price target of C$30.71 and an average rating of "Reduce".
  • Five stocks we like better than Laurentian Bank of Canada.

Shares of Laurentian Bank of Canada (TSE:LB - Get Free Report) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$29.99 and traded as high as C$33.74. Laurentian Bank of Canada shares last traded at C$31.86, with a volume of 716,679 shares trading hands.

Analyst Ratings Changes

Several equities analysts have recently weighed in on LB shares. Scotiabank raised their price target on Laurentian Bank of Canada from C$32.00 to C$33.00 in a report on Friday, October 10th. CIBC raised their price objective on shares of Laurentian Bank of Canada from C$33.00 to C$35.00 and gave the company a "neutral" rating in a research note on Wednesday, August 20th. National Bankshares dropped their target price on shares of Laurentian Bank of Canada from C$27.00 to C$26.00 and set an "underperform" rating on the stock in a research note on Tuesday, September 2nd. Raymond James Financial increased their price target on shares of Laurentian Bank of Canada from C$28.00 to C$30.00 and gave the company a "market perform" rating in a report on Tuesday, September 2nd. Finally, Desjardins boosted their price objective on shares of Laurentian Bank of Canada from C$29.00 to C$30.00 and gave the stock a "sell" rating in a report on Wednesday, August 13th. Four research analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Reduce" and a consensus price target of C$30.71.

Read Our Latest Analysis on LB

Laurentian Bank of Canada Price Performance

The business's 50 day moving average price is C$31.94 and its 200 day moving average price is C$29.99. The stock has a market capitalization of C$1.41 billion, a P/E ratio of 10.45, a price-to-earnings-growth ratio of 0.76 and a beta of 1.43.

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

Laurentian Bank of Canada Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, November 1st. Stockholders of record on Saturday, November 1st will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 5.9%. The ex-dividend date is Wednesday, October 1st. Laurentian Bank of Canada's dividend payout ratio (DPR) is 61.64%.

Laurentian Bank of Canada Company Profile

(Get Free Report)

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.

Further Reading

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