Laurentian Bank of Canada (TSE:LB) Shares Cross Above 200-Day Moving Average – Here’s What Happened

Laurentian Bank of Canada (TSE:LB)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$36.31 and traded as high as C$40.35. Laurentian Bank of Canada shares last traded at C$40.31, with a volume of 74,577 shares trading hands.

Analyst Ratings Changes

LB has been the topic of several research analyst reports. BMO Capital Markets increased their price objective on Laurentian Bank of Canada from C$31.00 to C$40.50 in a research note on Monday, December 8th. Canadian Imperial Bank of Commerce lowered Laurentian Bank of Canada from a “neutral” rating to a “tender” rating and lifted their target price for the company from C$35.00 to C$40.50 in a research report on Monday, December 8th. Scotiabank set a C$33.00 target price on Laurentian Bank of Canada and gave the stock a “sector perform” rating in a report on Tuesday, November 25th. Raymond James Financial downgraded Laurentian Bank of Canada from a “market perform” rating to an “underperform” rating in a research report on Monday, December 8th. Finally, Desjardins cut their price target on Laurentian Bank of Canada from C$50.00 to C$40.00 and set a “tender” rating on the stock in a research note on Monday, February 9th. Two investment 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.com, the company presently has an average rating of “Strong Sell” and an average target price of C$36.44.

Laurentian Bank of Canada Trading Down 0.1%

The firm’s 50-day moving average price is C$40.07 and its two-hundred day moving average price is C$36.31. The stock has a market cap of C$1.80 billion, a PE ratio of 14.19, a PEG ratio of 0.76 and a beta of 1.35.

Laurentian Bank of Canada Company Profile

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.