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

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

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on LB shares. Desjardins increased their target price on shares of Laurentian Bank of Canada from C$27.00 to C$29.00 and gave the stock a "sell" rating in a research note on Tuesday, June 3rd. Veritas upgraded shares of Laurentian Bank of Canada to a "strong sell" rating in a research note on Monday, June 2nd. Scotiabank boosted their price target on shares of Laurentian Bank of Canada from C$28.00 to C$32.00 and gave the stock a "sector perform" rating in a research note on Tuesday, June 3rd. Raymond James Financial boosted their price target on shares of Laurentian Bank of Canada from C$27.00 to C$28.00 and gave the stock a "market perform" rating in a research note on Tuesday, June 3rd. Finally, National Bankshares upped their target price on shares of Laurentian Bank of Canada from C$25.00 to C$28.00 and gave the stock an "underperform" rating in a research report on Tuesday, June 3rd. Three analysts have rated the stock with a sell rating and five have given a hold rating to the stock. Based on data from MarketBeat, Laurentian Bank of Canada presently has an average rating of "Hold" and a consensus target price of C$29.57.

Laurentian Bank of Canada Stock Performance

The stock's fifty day simple moving average is C$29.35 and its two-hundred day simple moving average is C$28.16. The company has a market cap of C$1.38 billion, a price-to-earnings ratio of -250.20, a price-to-earnings-growth 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.