Laurentian Bank of Canada (TSE:LB) Shares Cross Above 200-Day Moving Average – Should You Sell?

Laurentian Bank of Canada (TSE:LB) shares passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$26.88 and traded as high as C$29.37. Laurentian Bank of Canada shares last traded at C$28.73, with a volume of 435,899 shares.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. CIBC boosted their price target on Laurentian Bank of Canada from C$28.00 to C$31.00 in a research report on Tuesday, November 26th. Scotiabank boosted their target price on Laurentian Bank of Canada from C$30.00 to C$33.00 and gave the stock a “sector perform” rating in a report on Monday, December 9th. Cibc World Mkts upgraded shares of Laurentian Bank of Canada to a “hold” rating in a report on Wednesday, August 21st. Jefferies Financial Group lifted 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, Raymond James lifted their target price on shares of Laurentian Bank of Canada from C$27.00 to C$29.00 and gave the company a “market perform” rating in a report on Monday, December 9th. Three equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of C$28.67.

Laurentian Bank of Canada Stock Down 2.3 %

The firm has a market capitalization of C$1.26 billion, a PE ratio of -46.34, a P/E/G ratio of 0.76 and a beta of 1.25. The firm’s 50 day moving average price is C$27.95 and its two-hundred day moving average price is C$26.88.

Laurentian Bank of Canada Announces Dividend

The firm 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 dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 6.54%. Laurentian Bank of Canada’s dividend payout ratio is presently -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.