Laurentian Bank of Canada (TSE:LB) Sets New 52-Week High - Here's Why

Laurentian Bank of Canada (TSE:LB - Get Free Report) shares reached a new 52-week high on Wednesday . The company traded as high as C$31.42 and last traded at C$31.38, with a volume of 69641 shares trading hands. The stock had previously closed at C$31.05.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on LB shares. Veritas raised Laurentian Bank of Canada to a "strong sell" rating in a research note on Monday, June 2nd. National Bankshares lifted their price target on Laurentian Bank of Canada from C$25.00 to C$28.00 and gave the stock an "underperform" rating in a research note on Tuesday, June 3rd. Scotiabank increased their target price on Laurentian Bank of Canada from C$28.00 to C$32.00 and gave the company a "sector perform" rating in a report on Tuesday, June 3rd. Jefferies Financial Group cut their target price on shares of Laurentian Bank of Canada from C$29.00 to C$27.00 in a research report on Monday, April 21st. Finally, CIBC boosted their target price on shares of Laurentian Bank of Canada from C$28.00 to C$33.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 3rd. Three research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of C$29.57.

Laurentian Bank of Canada Stock Performance

The company has a 50-day moving average of C$29.27 and a 200 day moving average of C$28.14. The firm has a market cap of C$1.38 billion, a P/E ratio of -249.96, a P/E/G ratio of 0.76 and a beta of 1.25.

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.

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