Laurentian Bank of Canada (TSE:LB) Share Price Passes Above 200 Day Moving Average - Here's What Happened

Laurentian Bank of Canada (TSE:LB - Get Free Report)'s share price 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 Upgrades and Downgrades

Several research firms have weighed in on LB. Scotiabank raised their price target 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 raised their price target on Laurentian Bank of Canada from C$27.00 to C$29.00 and gave the stock a "market perform" rating in a research report on Monday, December 9th. BMO Capital Markets raised their price target on Laurentian Bank of Canada from C$28.00 to C$31.00 in a research report on Monday, December 9th. National Bankshares raised their price target on Laurentian Bank of Canada from C$25.00 to C$27.00 and gave the stock an "underperform" rating in a research report on Monday, December 9th. Finally, CIBC raised their price target on Laurentian Bank of Canada from C$28.00 to C$31.00 in a research report on Tuesday, November 26th. Three equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of C$28.67.

Laurentian Bank of Canada Price Performance

The stock has a 50-day simple moving average of C$29.05 and a 200-day simple moving average of C$27.41. The stock has a market cap of C$1.26 billion, a PE ratio of -46.44, a P/E/G ratio of 0.76 and a beta of 1.25.

Laurentian Bank of Canada Announces Dividend

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