Laurentian Bank of Canada (TSE:LB) Stock Passes Above 200-Day Moving Average of $44.50

Laurentian Bank of Canada (TSE:LB) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $44.50 and traded as high as $46.50. Laurentian Bank of Canada shares last traded at $46.43, with a volume of 57,550 shares traded.

LB has been the topic of several research analyst reports. Barclays restated an “equal weight” rating and set a C$46.00 price objective on shares of Laurentian Bank of Canada in a research note on Friday, August 30th. CIBC upgraded Laurentian Bank of Canada from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from C$43.00 to C$49.00 in a research note on Tuesday, August 13th. Two investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. Laurentian Bank of Canada presently has a consensus rating of “Hold” and an average target price of C$43.56.

The company has a 50 day moving average of C$45.53 and a 200-day moving average of C$44.50. The stock has a market capitalization of $1.97 billion and a P/E ratio of 11.57.

Laurentian Bank of Canada (TSE:LB) last issued its earnings results on Thursday, August 29th. The company reported C$1.15 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of C$1.15. The company had revenue of C$244.65 million during the quarter, compared to analyst estimates of C$253.30 million. Research analysts anticipate that Laurentian Bank of Canada will post 4.7399996 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Tuesday, October 1st were given a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 5.69%. The ex-dividend date of this dividend was Monday, September 30th. Laurentian Bank of Canada’s dividend payout ratio is presently 64.85%.

Laurentian Bank of Canada Company Profile (TSE:LB)

Laurentian Bank of Canada, together with its subsidiaries, provides banking services to individuals, small and medium-sized enterprises, and independent advisors in Canada and the United States. It operates through four segments: Retail Services, Business Services, B2B Bank, and Capital Markets. The company offers transactional products and current accounts, term deposits, and investment accounts; personal line of credit, personal loans, student loans, and registered retirement savings plans; financing for agriculture, real estate, and commercial industries, as well as small and medium-sized enterprises; mortgage solutions, such as variable-rate mortgage, fixed-rate mortgage, equity line of credit, mortgage insurance, and retirement line of credit; and credit and business cards, as well as equipment finance solutions.

Featured Article: Understanding the different types of bonds

Receive News & Ratings for Laurentian Bank of Canada Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Laurentian Bank of Canada and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit