Laurentian Bank of Canada (TSE:LB) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

Laurentian Bank of Canada (TSE:LB) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$27.20 and traded as high as C$28.99. Laurentian Bank of Canada shares last traded at C$28.93, with a volume of 190,541 shares.

Analyst Ratings Changes

LB has been the subject of several recent analyst reports. CIBC raised their target price on Laurentian Bank of Canada from C$28.00 to C$31.00 in a research note on Tuesday, November 26th. Scotiabank raised their price objective on Laurentian Bank of Canada from C$30.00 to C$33.00 and gave the stock a “sector perform” rating in a research report on Monday, December 9th. Raymond James boosted their price objective on shares of Laurentian Bank of Canada from C$27.00 to C$29.00 and gave the company a “market perform” rating in a report on Monday, December 9th. BMO Capital Markets increased their target price on shares of Laurentian Bank of Canada from C$28.00 to C$31.00 in a research note on Monday, December 9th. Finally, Jefferies Financial Group boosted their price target on shares of Laurentian Bank of Canada from C$29.00 to C$30.00 and gave the company a “hold” rating in a research note on Monday, December 9th. Three equities research analysts have rated the stock with a sell rating and five have given a hold rating to the company. Based on data from MarketBeat, Laurentian Bank of Canada has an average rating of “Hold” and a consensus target price of C$28.67.

Laurentian Bank of Canada Stock Performance

The company has a 50-day moving average of C$28.62 and a 200-day moving average of C$27.23. The stock has a market cap of C$1.27 billion, a price-to-earnings ratio of -46.56, a PEG ratio of 0.76 and a beta of 1.25.

Laurentian Bank of Canada Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, February 1st. Shareholders of record on Friday, January 3rd will be paid a dividend of $0.47 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $1.88 annualized dividend and a yield of 6.51%. Laurentian Bank of Canada’s dividend payout ratio is currently -303.23%.

About Laurentian Bank of Canada

Laurentian Bank of Canada, together with its subsidiaries, provides various financial services to personal, business, and institutional customers in Canada and the United States. It operates through three segments: Personal Banking, Commercial Banking, and Capital Markets. The Personal Banking segment offers financial services, such as financial advisory services to financial intermediaries; and operates digital direct-to-customer platform to retail clients.