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

Laurentian Bank of Canada (TSE:LB) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$27.20 and traded as high as C$28.99. Laurentian Bank of Canada shares last traded at C$28.93, with a volume of 190,541 shares traded.

Analysts Set New Price Targets

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

Laurentian Bank of Canada Price Performance

The company’s 50 day simple moving average is C$28.53 and its 200 day simple moving average is C$27.20. The stock has a market cap of C$1.27 billion, a P/E ratio of -46.66, a P/E/G ratio of 0.76 and a beta of 1.25.

Laurentian Bank of Canada Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, February 1st. Investors of record on Friday, January 3rd will be given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 6.50%. The ex-dividend date is Friday, January 3rd. Laurentian Bank of Canada’s dividend payout ratio is currently -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.