Laurentian Bank of Canada (TSE:LB) Share Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Laurentian Bank of Canada (TSE:LB) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$40.31 and traded as high as C$40.68. Laurentian Bank of Canada shares last traded at C$40.68, with a volume of 88,738 shares.

Wall Street Analysts Forecast Growth

Separately, Desjardins set a C$40.50 price objective on Laurentian Bank of Canada and gave the company a “tender” rating in a research note on Wednesday, August 5th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Laurentian Bank of Canada has a consensus rating of “Reduce” and a consensus price target of C$39.17.

Laurentian Bank of Canada Trading Down 0.0%

The business has a 50 day simple moving average of C$40.38 and a 200-day simple moving average of C$40.31. The stock has a market capitalization of C$1.82 billion, a price-to-earnings ratio of -83.00, a price-to-earnings-growth ratio of 0.76 and a beta of 1.10.

Laurentian Bank of Canada (TSE:LB) last issued its earnings results on Friday, August 28th. The company reported C$0.51 earnings per share for the quarter. The business had revenue of C$241.73 million for the quarter. Laurentian Bank of Canada had a negative return on equity of 0.30% and a negative net margin of 0.41%. Research analysts predict that Laurentian Bank of Canada will post 3.8414986 EPS for the current year.

Laurentian Bank of Canada Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Saturday, August 1st. Investors of record on Saturday, August 1st were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 4.6%. The ex-dividend date was Tuesday, June 30th. Laurentian Bank of Canada’s dividend payout ratio (DPR) is presently -383.67%.

About Laurentian Bank of Canada

Founded in Montreal in 1846, Laurentian Bank is committed to serving its customers and fostering deep relationships with specialized groups. Laurentian Bank runs operations across Canada – primarily in Québec and Ontario – as well as in the United States and competes where it sees market opportunity and has an edge, while harnessing the power of partnerships and collaboration.