Laurentian Bank of Canada (TSE:LB) Stock Price Passes Above 200-Day Moving Average - Time to Sell?

Key Points

• Laurentian Bank of Canada shares have recently surpassed their 200-day moving average, reaching a price of C$33.21 during trading, while currently trading at C$32.99.
• The company announced a quarterly dividend of $0.47 per share, which will be paid on November 1st, 2023, resulting in an annualized dividend yield of 5.7%.
• Analyst ratings vary, with recent price targets ranging from C$26.00 to C$35.00, resulting in a consensus rating of “Reduce” and a price target of C$30.57.

Laurentian Bank of Canada (TSE:LB - Get Free Report) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$29.57 and traded as high as C$33.21. Laurentian Bank of Canada shares last traded at C$32.99, with a volume of 442,750 shares trading hands.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Raymond James Financial lifted their price objective 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 research report on Tuesday, September 2nd. Jefferies Financial Group lifted their price target on shares of Laurentian Bank of Canada from C$29.00 to C$31.00 in a report on Wednesday, August 13th. Desjardins boosted their price target on shares of Laurentian Bank of Canada from C$29.00 to C$30.00 and gave the stock a "sell" rating in a research note on Wednesday, August 13th. National Bankshares cut their price objective on 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, CIBC lifted their target price on Laurentian Bank of Canada from C$33.00 to C$35.00 and gave the stock a "neutral" rating in a report on Wednesday, August 20th. Four research analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Reduce" and a consensus price target of C$30.57.

Laurentian Bank of Canada Trading Down 0.2%

The stock has a 50-day simple moving average of C$31.55 and a two-hundred day simple moving average of C$29.57. The firm has a market capitalization of C$1.46 billion, a P/E ratio of 10.82, 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 released its quarterly earnings data on Friday, August 29th. The company reported C$0.73 earnings per share (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 prior year, the firm earned $0.88 EPS. As a group, research analysts expect that Laurentian Bank of Canada will post 3.8414986 EPS for the current year.

Laurentian Bank of Canada Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, November 1st. Shareholders of record on Saturday, November 1st will be given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 5.7%. The ex-dividend date of this dividend is Wednesday, October 1st. Laurentian Bank of Canada's dividend payout ratio is presently 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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