Laurentian Bank of Canada (TSE:LB) Stock Price Passes Above Two Hundred Day Moving Average – Here’s Why

Laurentian Bank of Canada (TSE:LB)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$38.78 and traded as high as C$40.33. Laurentian Bank of Canada shares last traded at C$40.29, with a volume of 37,374 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Desjardins dropped their target price on shares of Laurentian Bank of Canada from C$50.00 to C$40.00 and set a “tender” rating for the company in a research report on Monday, February 9th. Two research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Strong Sell” and an average target price of C$36.44.

Laurentian Bank of Canada Stock Performance

The firm’s 50-day simple moving average is C$40.23 and its 200 day simple moving average is C$38.78. The company has a market cap of C$1.80 billion, a P/E ratio of 26.86, a PEG ratio of 0.76 and a beta of 1.23.

Laurentian Bank of Canada (TSE:LB) last announced its quarterly earnings results on Friday, February 27th. The company reported C$0.65 earnings per share (EPS) for the quarter. Laurentian Bank of Canada had a net margin of 3.72% and a return on equity of 2.86%. The company had revenue of C$251.56 million during the quarter. As a group, research analysts forecast that Laurentian Bank of Canada will post 3.8414986 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 Friday, May 1st. Stockholders of record on Friday, May 1st were issued a $0.47 dividend. The ex-dividend date of this dividend was Wednesday, April 1st. This represents a $1.88 annualized dividend and a dividend yield of 4.7%. Laurentian Bank of Canada’s payout ratio is 125.33%.

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.