Laurentian Bank of Canada (TSE:LB) Stock Price Crosses Above 200-Day Moving Average – Here’s Why

Laurentian Bank of Canada (TSE:LB)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$40.29 and traded as high as C$40.63. Laurentian Bank of Canada shares last traded at C$40.58, with a volume of 127,902 shares changing hands.

Analyst Ratings Changes

Separately, Desjardins set a C$40.50 price target on Laurentian Bank of Canada and gave the company a “tender” rating in a report on Wednesday, August 5th. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and an average price target of C$39.17.

Laurentian Bank of Canada Price Performance

The firm’s fifty day moving average is C$40.32 and its 200 day moving average is C$40.29. The firm has a market capitalization of C$1.82 billion, a price-to-earnings ratio of -82.96, a PEG ratio of 0.76 and a beta of 1.10.

Laurentian Bank of Canada (TSE:LB) last issued its earnings results on Friday, August 28th. The company reported C$0.51 earnings per share (EPS) for the quarter. Laurentian Bank of Canada had a negative net margin of 0.41% and a negative return on equity of 0.30%. The company had revenue of C$241.73 million during the quarter. Equities research analysts forecast that Laurentian Bank of Canada will post 3.8414986 EPS for the current fiscal year.

Laurentian Bank of Canada Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Saturday, August 1st. Shareholders of record on Saturday, August 1st were paid a $0.47 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $1.88 dividend on an annualized basis and a yield of 4.6%. Laurentian Bank of Canada’s payout ratio is -383.67%.

About Laurentian Bank of Canada

Founded in Montreal in 1846, Laurentian Bank is committed to serving its customers and fostering deep relationships with specialized groups. Laurentian Bank runs operations across Canada – primarily in Québec and Ontario – as well as in the United States and competes where it sees market opportunity and has an edge, while harnessing the power of partnerships and collaboration.