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

Laurentian Bank of Canada (TSE:LB)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$33.49 and traded as high as C$40.00. Laurentian Bank of Canada shares last traded at C$39.87, with a volume of 418,408 shares changing hands.

Analyst Ratings Changes

LB has been the topic of a number of recent research reports. Raymond James Financial cut Laurentian Bank of Canada from a “market perform” rating to an “underperform” rating in a report on Monday, December 8th. CIBC downgraded shares of Laurentian Bank of Canada from a “neutral” rating to a “tender” rating and boosted their target price for the stock from C$35.00 to C$40.50 in a report on Monday, December 8th. Royal Bank Of Canada raised Laurentian Bank of Canada from a “strong sell” rating to a “hold” rating and increased their price target for the company from C$25.00 to C$40.00 in a research note on Monday, December 8th. BMO Capital Markets increased their price objective on shares of Laurentian Bank of Canada from C$31.00 to C$40.50 in a research report on Monday, December 8th. Finally, Scotiabank set a C$33.00 price objective on Laurentian Bank of Canada and gave the company a “sector perform” rating in a research note on Tuesday, November 25th. Two analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Strong Sell” and an average target price of C$35.19.

Laurentian Bank of Canada Price Performance

The company’s fifty day moving average is C$37.04 and its 200-day moving average is C$33.49. The company has a market capitalization of C$1.78 billion, a PE ratio of 14.04, a price-to-earnings-growth ratio of 0.76 and a beta of 1.57.

Laurentian Bank of Canada (TSE:LB) last issued its quarterly earnings data on Friday, December 5th. The company reported C$0.73 earnings per share for the quarter. The firm had revenue of C$244.71 million during the quarter. Laurentian Bank of Canada had a negative return on equity of 0.20% and a negative net margin of 0.30%. Equities research analysts forecast that Laurentian Bank of Canada will post 3.8414986 EPS for the current fiscal year.

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. The business services segment provides financial services, commercial banking, real estate financing, and equipment and inventory financing to business clients.