Laurentian Bank of Canada (TSE:LB) Shares Cross Above Two Hundred Day Moving Average – Should You Sell?

Laurentian Bank of Canada (TSE:LB) shares passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$27.28 and traded as high as C$29.69. Laurentian Bank of Canada shares last traded at C$29.18, with a volume of 274,410 shares traded.

Analysts Set New Price Targets

LB has been the subject of several research analyst reports. Scotiabank boosted their price target on shares of Laurentian Bank of Canada from C$30.00 to C$33.00 and gave the company a “sector perform” rating in a report on Monday, December 9th. CIBC boosted their target price on Laurentian Bank of Canada from C$28.00 to C$31.00 in a research note on Tuesday, November 26th. BMO Capital Markets raised their price target on Laurentian Bank of Canada from C$28.00 to C$31.00 in a research report on Monday, December 9th. Raymond James boosted their price objective on Laurentian Bank of Canada from C$27.00 to C$29.00 and gave the company a “market perform” rating in a research report on Monday, December 9th. Finally, Jefferies Financial Group raised their target price on shares of Laurentian Bank of Canada from C$29.00 to C$30.00 and gave the stock a “hold” rating in a report on Monday, December 9th. Three analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of C$28.67.

Laurentian Bank of Canada Stock Up 2.3 %

The stock’s fifty day moving average price is C$28.75 and its 200-day moving average price is C$27.28. The company has a market capitalization of C$1.28 billion, a price-to-earnings ratio of -47.06, a P/E/G ratio of 0.76 and a beta of 1.25.

Laurentian Bank of Canada Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Saturday, February 1st. Shareholders of record on Friday, January 3rd will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $1.88 annualized dividend and a yield of 6.44%. Laurentian Bank of Canada’s dividend payout ratio (DPR) is presently -303.23%.

About Laurentian Bank of Canada

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.