Laurentian Bank of Canada (TSE:LB) Stock Passes Above 200 Day Moving Average – Should You Sell?

Laurentian Bank of Canada (TSE:LB)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$27.60 and traded as high as C$28.08. Laurentian Bank of Canada shares last traded at C$27.76, with a volume of 139,298 shares changing hands.

Analysts Set New Price Targets

Several research firms have weighed in on LB. CIBC raised their target price on Laurentian Bank of Canada from C$28.00 to C$31.00 in a report on Tuesday, November 26th. BMO Capital Markets increased their target price on Laurentian Bank of Canada from C$28.00 to C$31.00 in a report on Monday, December 9th. Raymond James boosted their price objective on Laurentian Bank of Canada from C$27.00 to C$29.00 and gave the stock a “market perform” rating in a research note on Monday, December 9th. Jefferies Financial Group increased their price target on shares of Laurentian Bank of Canada from C$29.00 to C$30.00 and gave the company a “hold” rating in a research report on Monday, December 9th. Finally, Scotiabank lifted their price objective on Laurentian Bank of Canada from C$30.00 to C$33.00 and gave the company a “sector perform” rating in a report on Monday, December 9th. Three research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of C$28.67.

Laurentian Bank of Canada Trading Up 0.1 %

The stock has a market capitalization of C$1.23 billion, a PE ratio of -222.53, a price-to-earnings-growth ratio of 0.76 and a beta of 1.25. The firm has a 50-day moving average price of C$28.58 and a 200-day moving average price of C$27.61.

Laurentian Bank of Canada Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Saturday, February 1st. Shareholders of record on Friday, January 3rd were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 6.74%. The ex-dividend date was Friday, January 3rd. Laurentian Bank of Canada’s dividend payout ratio (DPR) is presently -1,499.45%.

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.