Laurentian Bank of Canada (TSE:LB) Stock Price Crosses Above 200-Day Moving Average of $26.60

Laurentian Bank of Canada (TSE:LB)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$26.60 and traded as high as C$26.75. Laurentian Bank of Canada shares last traded at C$26.66, with a volume of 83,455 shares.

Analysts Set New Price Targets

LB has been the subject of several recent research reports. Royal Bank of Canada reduced their price target on shares of Laurentian Bank of Canada from C$30.00 to C$26.00 and set an “underperform” rating for the company in a report on Friday, March 1st. National Bankshares lowered their target price on Laurentian Bank of Canada from C$28.00 to C$27.00 and set an “underperform” rating for the company in a report on Friday, March 1st. Raymond James dropped their target price on Laurentian Bank of Canada from C$32.00 to C$27.00 and set a “market perform” rating on the stock in a research report on Friday, March 1st. CIBC boosted their price target on Laurentian Bank of Canada from C$32.00 to C$33.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 14th. Finally, Jefferies Financial Group dropped their price objective on Laurentian Bank of Canada from C$25.00 to C$24.00 and set a “hold” rating on the stock in a research report on Friday, March 1st. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of C$28.70.

Laurentian Bank of Canada Stock Up 0.7 %

The firm has a market cap of C$1.17 billion, a PE ratio of 7.51, a price-to-earnings-growth ratio of 0.76 and a beta of 1.27. The stock has a 50 day moving average price of C$27.03 and a two-hundred day moving average price of C$26.60.

Laurentian Bank of Canada (TSE:LB) last released its earnings results on Thursday, February 29th. The company reported C$0.91 EPS for the quarter, missing analysts’ consensus estimates of C$0.93 by C($0.02). Laurentian Bank of Canada had a return on equity of 5.84% and a net margin of 17.33%. The company had revenue of C$258.34 million during the quarter, compared to analyst estimates of C$257.80 million. As a group, equities analysts anticipate that Laurentian Bank of Canada will post 3.8502203 earnings per share for the current year.

Laurentian Bank of Canada Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Wednesday, May 1st were paid a dividend of $0.47 per share. The ex-dividend date was Thursday, March 28th. This represents a $1.88 annualized dividend and a yield of 7.05%. Laurentian Bank of Canada’s payout ratio is presently 52.96%.

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.