Laurentian Bank of Canada (TSE:LB) Share Price Passes Above Two Hundred 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 traded.

Analyst Ratings Changes

Several equities research analysts have recently commented on LB shares. Royal Bank Of Canada upgraded 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 report on Monday, December 8th. Scotiabank set a C$33.00 price target on Laurentian Bank of Canada and gave the stock a “sector perform” rating in a research note on Tuesday, November 25th. BMO Capital Markets raised their target price on Laurentian Bank of Canada from C$31.00 to C$40.50 in a research note on Monday, December 8th. Desjardins reduced their target price 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 report on Monday, February 9th. Finally, Canadian Imperial Bank of Commerce lowered Laurentian Bank of Canada from a “neutral” rating to a “tender” rating and upped their price objective for the stock from C$35.00 to C$40.50 in a research report on Monday, December 8th. Two research analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, Laurentian Bank of Canada currently has a consensus rating of “Strong Sell” and an average target price of C$36.44.

Laurentian Bank of Canada Trading Down 0.1%

The firm’s fifty day moving average price is C$40.03 and its 200 day moving average price is C$35.24. The stock has a market capitalization of C$1.79 billion, a price-to-earnings ratio of 14.11, a price-to-earnings-growth 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 business had revenue of C$244.71 million for the quarter. On average, analysts forecast that Laurentian Bank of Canada will post 3.8414986 earnings per share for the current fiscal year.

About Laurentian Bank of Canada

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.