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

Laurentian Bank of Canada (TSE:LB - Get Free Report) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$26.88 and traded as high as C$29.37. Laurentian Bank of Canada shares last traded at C$28.73, with a volume of 435,899 shares trading hands.

Wall Street Analysts Forecast Growth

LB has been the subject of a number of research reports. National Bankshares boosted their price target on shares of Laurentian Bank of Canada from C$25.00 to C$27.00 and gave the stock an "underperform" rating in a research note on Monday, December 9th. Jefferies Financial Group upped their target price on shares of Laurentian Bank of Canada from C$29.00 to C$30.00 and gave the stock a "hold" rating in a research report on Monday, December 9th. Cibc World Mkts raised Laurentian Bank of Canada to a "hold" rating in a research note on Wednesday, August 21st. BMO Capital Markets lifted their price target on Laurentian Bank of Canada from C$28.00 to C$31.00 in a research note on Monday, December 9th. Finally, CIBC increased their price objective on Laurentian Bank of Canada from C$28.00 to C$31.00 in a research report on Tuesday, November 26th. Three investment analysts have rated the stock with a sell rating and five have given a hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of C$28.67.

Laurentian Bank of Canada Price Performance

The company has a market cap of C$1.26 billion, a PE ratio of -46.21, a price-to-earnings-growth ratio of 0.76 and a beta of 1.25. The business has a 50 day moving average of C$27.99 and a 200 day moving average of C$26.89.

Laurentian Bank of Canada Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Saturday, February 1st. Stockholders 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 dividend yield of 6.56%. Laurentian Bank of Canada's 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.