Laurentian Bank of Canada (TSE:LB) Stock Crosses Above Two Hundred Day Moving Average - Here's Why

Laurentian Bank of Canada (TSE:LB - Get Free Report)'s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$27.28 and traded as high as C$29.69. Laurentian Bank of Canada shares last traded at C$29.18, with a volume of 274,410 shares.

Analyst Ratings Changes

Several analysts recently issued reports on LB shares. BMO Capital Markets increased their price target on Laurentian Bank of Canada from C$28.00 to C$31.00 in a report on Monday, December 9th. Jefferies Financial Group increased their target price on Laurentian Bank of Canada from C$29.00 to C$30.00 and gave the company a "hold" rating in a research note on Monday, December 9th. Scotiabank boosted 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. CIBC upped their price target on Laurentian Bank of Canada from C$28.00 to C$31.00 in a report on Tuesday, November 26th. Finally, National Bankshares lifted their price objective on shares of Laurentian Bank of Canada from C$25.00 to C$27.00 and gave the company an "underperform" rating in a research note on Monday, December 9th. Three investment analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of C$28.67.

Laurentian Bank of Canada Stock Performance

The company has a market capitalization of C$1.28 billion, a PE ratio of -47.05, a P/E/G ratio of 0.76 and a beta of 1.25. The firm has a fifty day simple moving average of C$28.81 and a 200-day simple moving average of C$27.30.

Laurentian Bank of Canada Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, February 1st. Shareholders of record on Friday, January 3rd will be paid a dividend of $0.47 per share. The ex-dividend date is Friday, January 3rd. This represents a $1.88 dividend on an annualized basis and a yield of 6.44%. Laurentian Bank of Canada's dividend payout ratio (DPR) 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.