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

Laurentian Bank of Canada (TSE:LB) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$27.41 and traded as high as C$29.12. Laurentian Bank of Canada shares last traded at C$29.07, with a volume of 113,302 shares.

Analyst Ratings Changes

A number of brokerages recently issued reports on LB. Raymond James increased their price objective on Laurentian Bank of Canada from C$27.00 to C$29.00 and gave the stock a “market perform” rating in a report on Monday, December 9th. BMO Capital Markets increased their price objective on Laurentian Bank of Canada from C$28.00 to C$31.00 in a report on Monday, December 9th. Scotiabank increased 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 report on Monday, December 9th. Jefferies Financial Group raised their price target on Laurentian Bank of Canada from C$29.00 to C$30.00 and gave the company a “hold” rating in a report on Monday, December 9th. Finally, National Bankshares raised their price target on Laurentian Bank of Canada from C$25.00 to C$27.00 and gave the company an “underperform” rating in a report on Monday, December 9th. Three analysts have rated the stock with a sell rating and five have given a hold rating to the company. According to MarketBeat.com, Laurentian Bank of Canada has a consensus rating of “Hold” and a consensus price target of C$28.67.

Laurentian Bank of Canada Stock Performance

The stock has a market capitalization of C$1.26 billion, a P/E ratio of -46.44, a price-to-earnings-growth ratio of 0.76 and a beta of 1.25. The firm has a 50-day moving average price of C$29.08 and a 200 day moving average price of C$27.43.

Laurentian Bank of Canada Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, February 1st. Stockholders of record on Friday, January 3rd will be given a dividend of $0.47 per share. The ex-dividend date is Friday, January 3rd. This represents a $1.88 annualized dividend and a dividend yield of 6.53%. Laurentian Bank of Canada’s dividend payout ratio (DPR) is presently -303.23%.

Laurentian Bank of Canada Company Profile

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.