Laurentian Bank of Canada (TSE:LB) Share Price Crosses Above 200 Day Moving Average – Time to Sell?

Laurentian Bank of Canada (TSE:LB)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-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.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on LB. BMO Capital Markets increased 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. Scotiabank set a C$33.00 price target on shares of Laurentian Bank of Canada and gave the company a “sector perform” rating in a research report on Tuesday, November 25th. Royal Bank Of Canada upgraded Laurentian Bank of Canada from a “strong sell” rating to a “hold” rating and increased their price target for the stock from C$25.00 to C$40.00 in a report on Monday, December 8th. Desjardins dropped their price objective 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. Finally, Canadian Imperial Bank of Commerce cut Laurentian Bank of Canada from a “neutral” rating to a “tender” rating and raised their target price for the stock from C$35.00 to C$40.50 in a research note on Monday, December 8th. Two research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Strong Sell” and an average target price of C$36.44.

Laurentian Bank of Canada Stock Performance

The business has a fifty day moving average of C$40.04 and a 200-day moving average of C$35.31. The company has a market capitalization of C$1.79 billion, a P/E ratio of 14.12, a PEG ratio of 0.76 and a beta of 1.49.

Laurentian Bank of Canada (TSE:LB) last announced its quarterly earnings results on Friday, December 5th. The company reported C$0.73 EPS for the quarter. Laurentian Bank of Canada had a negative net margin of 0.30% and a negative return on equity of 0.20%. The business had revenue of C$244.71 million during the quarter. Sell-side analysts anticipate that Laurentian Bank of Canada will post 3.8414986 EPS for the current 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.