Laurentian Bank of Canada (TSE:LB) Shares Pass Above 200-Day Moving Average - Time to Sell?

Shares of Laurentian Bank of Canada (TSE:LB - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$26.44 and traded as high as C$27.37. Laurentian Bank of Canada shares last traded at C$27.27, with a volume of 232,714 shares traded.

Analyst Upgrades and Downgrades

LB has been the subject of a number of research reports. Desjardins lifted their price objective on 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 World Mkts raised Laurentian Bank of Canada to a "hold" rating in a research note on Wednesday, August 21st. Raymond James lifted their price objective on Laurentian Bank of Canada from C$26.00 to C$27.00 in a research note on Wednesday, September 4th. Finally, CIBC dropped their price objective 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. Three equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of C$27.01.

Laurentian Bank of Canada Stock Performance

The company has a 50-day simple moving average of C$26.73 and a 200-day simple moving average of C$26.44. The company has a market cap of C$1.19 billion, a price-to-earnings ratio of -43.66, a PEG 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 for the quarter, topping analysts' consensus estimates of C$0.85 by C$0.03. The business had revenue of C$256.50 million for the quarter, compared to analysts' expectations of C$257.90 million. Laurentian Bank of Canada had a negative return on equity of 0.55% and a negative net margin of 1.64%. As a group, equities research analysts forecast that Laurentian Bank of Canada will post 3.8414986 EPS for the current year.

Laurentian Bank of Canada Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, November 1st were paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 6.92%. The ex-dividend date of this dividend was Tuesday, October 1st. Laurentian Bank of Canada's payout ratio is currently -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.