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

Shares of Laurentian Bank of Canada (TSE:LB) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$35.78 and traded as high as C$40.19. Laurentian Bank of Canada shares last traded at C$40.19, with a volume of 423,776 shares changing hands.

Analysts Set New Price Targets

LB has been the topic of several recent research reports. Canadian Imperial Bank of Commerce lowered Laurentian Bank of Canada from a “neutral” rating to a “tender” rating and raised their target price for the company from C$35.00 to C$40.50 in a report on Monday, December 8th. Scotiabank set a C$33.00 price objective on Laurentian Bank of Canada and gave the company a “sector perform” rating in a research note on Tuesday, November 25th. Royal Bank Of Canada raised Laurentian Bank of Canada from a “strong sell” rating to a “hold” rating and upped their target price for the stock from C$25.00 to C$40.00 in a research report on Monday, December 8th. Raymond James Financial downgraded Laurentian Bank of Canada from a “market perform” rating to an “underperform” rating in a report on Monday, December 8th. Finally, Desjardins reduced their price objective on shares of 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 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 presently has an average rating of “Strong Sell” and a consensus target price of C$36.44.

Laurentian Bank of Canada Price Performance

The firm has a 50-day moving average of C$40.06 and a 200 day moving average of C$35.81. The stock has a market capitalization of C$1.80 billion, a price-to-earnings ratio of 14.15, a PEG ratio of 0.76 and a beta of 1.49.

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

Laurentian Bank of Canada Company Profile

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.