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

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

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Scotiabank set a C$33.00 target price on Laurentian Bank of Canada and gave the company a “sector perform” rating in a research note on Tuesday, November 25th. Raymond James Financial cut Laurentian Bank of Canada from a “market perform” rating to an “underperform” rating in a research note on Monday, December 8th. Canadian Imperial Bank of Commerce downgraded Laurentian Bank of Canada from a “neutral” rating to a “tender” rating and increased their price target 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 raised their price objective for the company from C$25.00 to C$40.00 in a research note on Monday, December 8th. Finally, BMO Capital Markets lifted their price objective on Laurentian Bank of Canada from C$31.00 to C$40.50 in a report on Monday, December 8th. Two equities research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Strong Sell” and a consensus price target of C$36.44.

Laurentian Bank of Canada Stock Performance

The company 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. The company’s fifty day simple moving average is C$40.10 and its two-hundred day simple moving average is C$36.96.

Laurentian Bank of Canada (TSE:LB) last released its earnings results on Friday, February 27th. The company reported C$0.65 earnings per share for the quarter. The company 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%. Sell-side analysts anticipate that Laurentian Bank of Canada will post 3.8414986 EPS for the current 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.