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

Laurentian Bank of Canada (TSE:LB)’s share price 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 changing hands.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on LB. Raymond James lifted their price target on 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. CIBC boosted their price objective on Laurentian Bank of Canada from C$28.00 to C$31.00 in a research note on Tuesday, November 26th. BMO Capital Markets raised their target price on shares of Laurentian Bank of Canada from C$28.00 to C$31.00 in a report on Monday, December 9th. Jefferies Financial Group lifted their price target on Laurentian Bank of Canada from C$29.00 to C$30.00 and gave the stock a “hold” rating in a research note on Monday, December 9th. Finally, Scotiabank upped their price objective on shares of Laurentian Bank of Canada from C$30.00 to C$33.00 and gave the company a “sector perform” rating in a research note on Monday, December 9th. Three research analysts have rated the stock with a sell rating and five have given a hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of C$28.67.

Laurentian Bank of Canada Trading Up 0.6 %

The company has a fifty day moving average price of C$28.62 and a two-hundred day moving average price of C$27.23. The company has a market cap of C$1.27 billion, a price-to-earnings ratio of -46.56, a price-to-earnings-growth ratio of 0.76 and a beta of 1.25.

Laurentian Bank of Canada Dividend Announcement

The firm also recently declared 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. This represents a $1.88 dividend on an annualized basis and a yield of 6.51%. The ex-dividend date is Friday, January 3rd. Laurentian Bank of Canada’s dividend payout ratio is -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.