Laurentian Bank of Canada (TSE:LB) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Laurentian Bank of Canada (TSE:LB)’s share price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$35.24 and traded as high as C$40.13. Laurentian Bank of Canada shares last traded at C$40.08, with a volume of 121,755 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on LB. Desjardins dropped their price target on shares of Laurentian Bank of Canada from C$50.00 to C$40.00 and set a “tender” rating on the stock in a research report on Monday, February 9th. Royal Bank Of Canada raised shares of 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 research report on Monday, December 8th. Scotiabank set a C$33.00 price objective on Laurentian Bank of Canada and gave the stock a “sector perform” rating in a report on Tuesday, November 25th. BMO Capital Markets raised their price target on shares of Laurentian Bank of Canada from C$31.00 to C$40.50 in a report on Monday, December 8th. Finally, Canadian Imperial Bank of Commerce lowered Laurentian Bank of Canada from a “neutral” rating to a “tender” rating and boosted their price objective for the stock from C$35.00 to C$40.50 in a report on Monday, December 8th. Two investment analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, Laurentian Bank of Canada has a consensus rating of “Strong Sell” and an average target price of C$36.44.

Laurentian Bank of Canada Stock Performance

The firm has a market capitalization of C$1.79 billion, a P/E ratio of 14.11, a PEG ratio of 0.76 and a beta of 1.49. The firm has a 50-day moving average of C$40.03 and a 200-day moving average of C$35.24.

Laurentian Bank of Canada (TSE:LB) last released its quarterly earnings results 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 for the quarter. Laurentian Bank of Canada had a negative return on equity of 0.20% and a negative net margin of 0.30%. On average, 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.