Laurentian Bank of Canada (TSE:LB) Stock Passes 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 Monday . The stock has a two hundred day moving average of C$34.60 and traded as high as C$40.08. Laurentian Bank of Canada shares last traded at C$40.02, with a volume of 409,018 shares trading hands.

Wall Street Analyst Weigh In

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

Laurentian Bank of Canada Stock Performance

The business has a 50 day moving average of C$39.37 and a two-hundred day moving average of C$34.60. The firm has a market capitalization of C$1.79 billion, a price-to-earnings ratio of 14.09, a P/E/G ratio of 0.76 and a beta of 1.57.

Laurentian Bank of Canada (TSE:LB) last announced its quarterly earnings data on Friday, December 5th. The company reported C$0.73 EPS for the quarter. Laurentian Bank of Canada had a negative return on equity of 0.20% and a negative net margin of 0.30%.The firm had revenue of C$244.71 million during the quarter. On average, equities analysts predict 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.