Laurentian Bank of Canada (TSE:LB) Share Price Passes Above 200-Day Moving Average – Time to Sell?

Shares of Laurentian Bank of Canada (TSE:LB) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$27.41 and traded as high as C$29.12. Laurentian Bank of Canada shares last traded at C$29.07, with a volume of 113,302 shares traded.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. National Bankshares lifted their price objective on Laurentian Bank of Canada from C$25.00 to C$27.00 and gave the stock an “underperform” rating in a research report on Monday, December 9th. Scotiabank lifted their price objective 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. BMO Capital Markets lifted their price objective on Laurentian Bank of Canada from C$28.00 to C$31.00 in a research report on Monday, December 9th. Jefferies Financial Group lifted their price objective on 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. Finally, CIBC lifted 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 research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. Based on data from MarketBeat.com, Laurentian Bank of Canada has a consensus rating of “Hold” and an average target price of C$28.67.

Laurentian Bank of Canada Trading Down 1.0 %

The company has a market cap of C$1.26 billion, a PE ratio of -46.44, a PEG ratio of 0.76 and a beta of 1.25. The stock has a 50 day moving average price of C$29.08 and a 200 day moving average price of C$27.43.

Laurentian Bank of Canada Dividend Announcement

The company 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 $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 6.53%. The ex-dividend date is Friday, January 3rd. Laurentian Bank of Canada’s payout ratio is presently -303.23%.

Laurentian Bank of Canada Company Profile

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.