Laurentian Bank of Canada (TSE:LB) Stock Crosses Above 200-Day Moving Average – What’s Next?

Shares of Laurentian Bank of Canada (TSE:LB) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$28.67 and traded as high as C$30.80. Laurentian Bank of Canada shares last traded at C$30.65, with a volume of 130,088 shares changing hands.

Wall Street Analyst Weigh In

LB has been the subject of several analyst reports. Raymond James Financial increased their price target on shares of Laurentian Bank of Canada from C$27.00 to C$28.00 and gave the company a “market perform” rating in a research report on Tuesday, June 3rd. Desjardins increased their price target on shares of Laurentian Bank of Canada from C$29.00 to C$30.00 and gave the company a “sell” rating in a research report on Wednesday, August 13th. National Bankshares decreased their price target on shares of Laurentian Bank of Canada from C$28.00 to C$27.00 and set an “underperform” rating for the company in a research report on Friday, August 15th. Jefferies Financial Group upped their price objective on shares of Laurentian Bank of Canada from C$29.00 to C$31.00 in a report on Wednesday, August 13th. Finally, CIBC upped their price objective on shares of Laurentian Bank of Canada from C$33.00 to C$35.00 and gave the company a “neutral” rating in a report on Wednesday, August 20th. Four research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, Laurentian Bank of Canada has an average rating of “Reduce” and an average target price of C$30.43.

Laurentian Bank of Canada Price Performance

The stock has a market cap of C$1.35 billion, a price-to-earnings ratio of -244.46, a P/E/G ratio of 0.76 and a beta of 1.25. The company’s fifty day moving average price is C$30.82 and its 200-day moving average price is C$28.67.

Laurentian Bank of Canada Company Profile

Laurentian Bank of Canada provides personal banking, business banking and real estate and commercial financing to its personal, business, and institutional customers across Canada and the United States. The company reports three operating segments: personal, business services, and capital markets. The personal segment offers financial services to retail clients.