Laurentian Bank of Canada (TSE:LB) Stock Crosses Above 200-Day Moving Average – Should You Sell?

Laurentian Bank of Canada (TSE:LB)’s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$26.42 and traded as high as C$27.10. Laurentian Bank of Canada shares last traded at C$26.70, with a volume of 302,225 shares traded.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on LB shares. Desjardins upped their price target on Laurentian Bank of Canada from C$25.00 to C$26.00 and gave the stock a “sell” rating in a report on Tuesday, August 6th. Cibc World Mkts raised Laurentian Bank of Canada to a “hold” rating in a report on Wednesday, August 21st. CIBC cut their price target on Laurentian Bank of Canada from C$30.00 to C$28.00 and set a “neutral” rating for the company in a research note on Tuesday, August 20th. Finally, Raymond James boosted their price objective on shares of Laurentian Bank of Canada from C$26.00 to C$27.00 in a research report on Wednesday, September 4th. Three analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of C$27.01.

Laurentian Bank of Canada Trading Down 0.4 %

The stock has a market cap of C$1.16 billion, a price-to-earnings ratio of -42.77, a P/E/G ratio of 0.76 and a beta of 1.25. The firm’s 50 day moving average is C$26.73 and its two-hundred day moving average is C$26.41.

Laurentian Bank of Canada (TSE:LB) last posted its quarterly earnings data on Friday, August 30th. The company reported C$0.88 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.85 by C$0.03. The business had revenue of C$256.50 million during the quarter, compared to analyst estimates of C$257.90 million. Laurentian Bank of Canada had a negative net margin of 1.64% and a negative return on equity of 0.55%. As a group, equities analysts expect 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 will be paid on Friday, November 1st. Shareholders of record on Friday, November 1st will be paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 7.11%. The ex-dividend date is Tuesday, October 1st. Laurentian Bank of Canada’s dividend payout ratio is presently -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.