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

Laurentian Bank of Canada (TSE:LB)’s stock 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 traded.

Analyst Upgrades and Downgrades

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

Laurentian Bank of Canada Trading Up 0.1%

The company’s 50 day simple moving average is C$37.17 and its 200 day simple moving average is C$33.58. The stock has a market capitalization of C$1.78 billion, a PE ratio of 14.05, a PEG ratio of 0.76 and a beta of 1.57.

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

About Laurentian Bank of Canada

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.