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

Laurentian Bank of Canada (TSE:LB) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$30.65 and traded as high as C$33.44. Laurentian Bank of Canada shares last traded at C$33.24, with a volume of 174,600 shares changing hands.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. CIBC increased their price target on Laurentian Bank of Canada from C$33.00 to C$35.00 and gave the company a “neutral” rating in a research note on Wednesday, August 20th. Jefferies Financial Group increased their price target on Laurentian Bank of Canada from C$29.00 to C$31.00 in a research note on Wednesday, August 13th. Desjardins increased their price target on Laurentian Bank of Canada from C$29.00 to C$30.00 and gave the company a “sell” rating in a research note on Wednesday, August 13th. National Bankshares dropped their price target on Laurentian Bank of Canada from C$27.00 to C$26.00 and set an “underperform” rating for the company in a research note on Tuesday, September 2nd. Finally, Scotiabank increased their price target on Laurentian Bank of Canada from C$32.00 to C$33.00 in a research note on Friday, October 10th. Four investment analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of C$30.71.

Laurentian Bank of Canada Price Performance

The firm has a market capitalization of C$1.47 billion, a price-to-earnings ratio of 10.90, a P/E/G ratio of 0.76 and a beta of 1.47. The stock has a fifty day moving average of C$32.41 and a two-hundred day moving average of C$30.65.

Laurentian Bank of Canada (TSE:LB) last posted its quarterly earnings data on Friday, August 29th. The company reported C$0.73 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.72 by C$0.01. Laurentian Bank of Canada had a negative return on equity of 0.20% and a negative net margin of 0.30%.During the same period in the prior year, the business earned $0.88 earnings per share. On average, research analysts forecast that Laurentian Bank of Canada will post 3.8414986 EPS for the current year.

Laurentian Bank of Canada Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, November 1st. Shareholders of record on Saturday, November 1st were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date was Wednesday, October 1st. Laurentian Bank of Canada’s dividend payout ratio (DPR) is presently 61.64%.

Laurentian Bank of Canada Company Profile

Laurentian Bank of Canada provides personal banking, business banking and real estate and commercial financing to its personal, business, and institutional customers across Canada and the United States. The company reports three operating segments: personal, business services, and capital markets. The personal segment offers financial services to retail clients.