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.

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