Laurentian Bank of Canada (TSE:LB) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Shares of Laurentian Bank of Canada (TSE:LB) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$36.96 and traded as high as C$40.22. Laurentian Bank of Canada shares last traded at C$40.17, with a volume of 141,329 shares changing hands.

Analysts Set New Price Targets

A number of research firms have recently weighed in on LB. BMO Capital Markets upped their price objective on Laurentian Bank of Canada from C$31.00 to C$40.50 in a research report 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 report on Monday, December 8th. Royal Bank Of Canada upgraded Laurentian Bank of Canada from a “strong sell” rating to a “hold” rating and upped their price target for the stock from C$25.00 to C$40.00 in a report on Monday, December 8th. Raymond James Financial lowered Laurentian Bank of Canada from a “market perform” rating to an “underperform” rating in a research report on Monday, December 8th. Finally, Desjardins decreased their price objective on Laurentian Bank of Canada from C$50.00 to C$40.00 and set a “tender” rating for the company in a research note on Monday, February 9th. Two equities research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Strong Sell” and an average price target of C$36.44.

Laurentian Bank of Canada Trading Down 0.0%

The stock’s fifty day moving average price is C$40.11 and its two-hundred day moving average price is C$37.00. The firm has a market capitalization of C$1.80 billion, a price-to-earnings ratio of 26.78, a price-to-earnings-growth ratio of 0.76 and a beta of 1.35.

Laurentian Bank of Canada (TSE:LB) last released its quarterly earnings data on Friday, February 27th. The company reported C$0.65 earnings per share (EPS) for the quarter. The business had revenue of C$251.56 million during the quarter. Laurentian Bank of Canada had a net margin of 3.72% and a return on equity of 2.86%. Analysts anticipate that Laurentian Bank of Canada will post 3.8414986 earnings per share for the current fiscal year.

About Laurentian Bank of Canada

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.