Laurentian Bank of Canada (TSE:LB) Stock Price Crosses Above 200-Day Moving Average - Here's Why

Key Points

• The share price of Laurentian Bank of Canada surpassed its 200-day moving average of C$28.34, reaching a high of C$31.03 during trading.
• Analysts have mixed ratings for the stock, with some upgrades including a raised target price from CIBC to C$33.00 and downgrades like a "strong sell" rating from Veritas.
• The company has a current market cap of C$1.36 billion and an average rating of "Hold" with a price target of C$29.57 according to MarketBeat.

Shares of Laurentian Bank of Canada (TSE:LB - Get Free Report) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$28.34 and traded as high as C$31.03. Laurentian Bank of Canada shares last traded at C$30.97, with a volume of 148,344 shares traded.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Desjardins increased their target price on Laurentian Bank of Canada from C$27.00 to C$29.00 and gave the stock a "sell" rating in a report on Tuesday, June 3rd. National Bankshares lifted their price objective 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 lifted their target price on Laurentian Bank of Canada from C$28.00 to C$32.00 and gave the stock a "sector perform" rating in a report on Tuesday, June 3rd. Veritas upgraded Laurentian Bank of Canada to a "strong sell" rating in a report on Monday, June 2nd. Finally, CIBC lifted their target price on Laurentian Bank of Canada from C$28.00 to C$33.00 and gave the stock a "neutral" rating in a report on Tuesday, June 3rd. Three analysts have rated the stock with a sell rating and five have issued a hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of C$29.57.

Laurentian Bank of Canada Stock Performance

The stock has a fifty day simple moving average of C$30.29 and a two-hundred day simple moving average of C$28.35. The stock has a market cap of C$1.36 billion, a price-to-earnings ratio of -247.09, 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.