Laurentian Bank of Canada (TSE:LB) Stock Passes Above 200 Day Moving Average – Should You Sell?

Laurentian Bank of Canada (TSE:LB) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$33.87 and traded as high as C$39.93. Laurentian Bank of Canada shares last traded at C$39.89, with a volume of 522,699 shares.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. 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. Scotiabank set a C$33.00 target price on Laurentian Bank of Canada and gave the company a “sector perform” rating in a research report on Tuesday, November 25th. BMO Capital Markets boosted 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. CIBC downgraded shares of Laurentian Bank of Canada from a “neutral” rating to a “tender” rating and increased their target price for the company from C$35.00 to C$40.50 in a research note on Monday, December 8th. Finally, Royal Bank Of Canada raised shares of Laurentian Bank of Canada from a “strong sell” rating to a “hold” rating and lifted their price target for the stock from C$25.00 to C$40.00 in a research note on Monday, December 8th. Two research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, Laurentian Bank of Canada presently has a consensus rating of “Strong Sell” and a consensus price target of C$35.19.

Laurentian Bank of Canada Stock Performance

The firm has a market cap of C$1.78 billion, a PE ratio of 14.05, a price-to-earnings-growth ratio of 0.76 and a beta of 1.57. The stock has a 50 day simple moving average of C$37.84 and a two-hundred day simple moving average of C$33.89.

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