Laurentian Bank of Canada (OTCMKTS:LRCDF) Shares Pass Above 50-Day Moving Average – Here’s Why

Laurentian Bank of Canada (OTCMKTS:LRCDF) shares passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $26.48 and traded as high as $29.0075. Laurentian Bank of Canada shares last traded at $29.0075, with a volume of 9,941 shares changing hands.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Scotiabank restated a “sector perform” rating on shares of Laurentian Bank of Canada in a report on Wednesday, December 3rd. Royal Bank Of Canada upgraded shares of Laurentian Bank of Canada to a “sector perform” rating in a report on Friday, December 5th. Raymond James Financial lowered Laurentian Bank of Canada from a “market perform” rating to an “underperform” rating in a report on Friday, December 5th. Finally, BMO Capital Markets restated a “market perform” rating on shares of Laurentian Bank of Canada in a research note on Monday, December 8th. Four analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Reduce”.

Laurentian Bank of Canada Stock Performance

The company’s 50 day moving average price is $26.48 and its 200 day moving average price is $24.16.

About Laurentian Bank of Canada

The Laurentian Bank of Canada (OTCMKTS:LRCDF) is headquartered in Quebec City and is one of Canada’s Schedule I banks. Established in 1846, the institution has grown from a regional savings bank into a diversified financial services provider. While its core footprint remains in Quebec, the bank also serves customers in other Canadian provinces through a network of branches, digital channels and broker partnerships.

Laurentian Bank’s personal banking division offers chequing and savings accounts, mortgages, lines of credit, credit cards and payment solutions.