Laurentian Bank of Canada (TSE:LB) Share Price Breaks Above 200 Day Moving Average – Here’s What Happened

Laurentian Bank of Canada (TSE:LB) shares passed above its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of C$40.35 and traded as high as C$40.42. Laurentian Bank of Canada shares last traded at C$40.40, with a volume of 69,268 shares.

Wall Street Analyst Weigh In

Separately, Desjardins set a C$40.50 price target on Laurentian Bank of Canada and gave the company a “tender” rating in a report on Wednesday, August 5th. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Laurentian Bank of Canada presently has an average rating of “Reduce” and an average target price of C$39.17.

Laurentian Bank of Canada Price Performance

The stock’s fifty day simple moving average is C$40.47 and its two-hundred day simple moving average is C$40.35. The company has a market capitalization of C$1.81 billion, a price-to-earnings ratio of -82.39, a PEG ratio of 0.76 and a beta of 0.88.

Laurentian Bank of Canada (TSE:LB) last posted its quarterly earnings results on Friday, August 28th. The company reported C$0.51 EPS for the quarter. Laurentian Bank of Canada had a negative net margin of 0.41% and a negative return on equity of 0.30%. The business had revenue of C$241.73 million during the quarter. On average, sell-side analysts predict that Laurentian Bank of Canada will post 3.84 EPS for the current year.

Laurentian Bank of Canada Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Friday, October 30th will be issued a $0.47 dividend. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $1.88 dividend on an annualized basis and a yield of 4.7%. Laurentian Bank of Canada’s dividend payout ratio (DPR) is currently -383.67%.

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.