Laurentian Bank of Canada (TSE:LB) Shares Pass Above 200 Day Moving Average – Here’s What Happened

by · The Markets Daily

Shares of Laurentian Bank of Canada (TSE:LB – Get Free Report) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$26.39 and traded as high as C$26.44. Laurentian Bank of Canada shares last traded at C$26.08, with a volume of 224,114 shares trading hands.

Wall Street Analysts Forecast Growth

LB has been the subject of several recent research reports. Desjardins increased their target price on shares of Laurentian Bank of Canada from C$25.00 to C$26.00 and gave the company a “sell” rating in a research note on Tuesday, August 6th. CIBC decreased their target price on Laurentian Bank of Canada from C$30.00 to C$28.00 and set a “neutral” rating on the stock in a report on Tuesday, August 20th. Cibc World Mkts raised Laurentian Bank of Canada to a “hold” rating in a report on Wednesday, August 21st. Finally, Raymond James lifted their price target on Laurentian Bank of Canada from C$26.00 to C$27.00 in a research note on Wednesday, September 4th. Three equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of C$27.01.

Get Our Latest Research Report on LB

Laurentian Bank of Canada Trading Up 0.7 %

The business’s fifty day moving average price is C$26.72 and its two-hundred day moving average price is C$26.39. The firm has a market cap of C$1.15 billion, a P/E ratio of -42.34, a P/E/G ratio of 0.76 and a beta of 1.25.

Laurentian Bank of Canada (TSE:LB – Get Free Report) last released its quarterly earnings results on Friday, August 30th. The company reported C$0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.85 by C$0.03. Laurentian Bank of Canada had a negative return on equity of 0.55% and a negative net margin of 1.64%. The company had revenue of C$256.50 million during the quarter, compared to the consensus estimate of C$257.90 million. Research analysts predict that Laurentian Bank of Canada will post 3.8414986 EPS for the current fiscal year.

Laurentian Bank of Canada Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, November 1st were given a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 7.16%. The ex-dividend date of this dividend was Tuesday, October 1st. Laurentian Bank of Canada’s dividend payout ratio is currently -303.23%.

Laurentian Bank of Canada Company Profile

(Get Free Report)

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.

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