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

Key Points

• Laurentian Bank of Canada shares have crossed above their 200-day moving average, currently trading at C$30.68, well above the average of C$28.47.
• Analysts have mixed views on the stock, with three maintaining a sell rating and a consensus target price of C$29.57.
• The bank's market capitalization stands at C$1.35 billion, with a P/E ratio of -244.70, indicating potential financial concerns.

Laurentian Bank of Canada (TSE:LB - Get Free Report) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$28.47 and traded as high as C$30.68. Laurentian Bank of Canada shares last traded at C$30.68, with a volume of 50,894 shares trading hands.

Analyst Upgrades and Downgrades

LB has been the subject of a number of recent research reports. Raymond James Financial lifted their price objective on Laurentian Bank of Canada from C$27.00 to C$28.00 and gave the company a "market perform" rating in a research note on Tuesday, June 3rd. Veritas upgraded Laurentian Bank of Canada to a "strong sell" rating in a research note on Monday, June 2nd. Jefferies Financial Group upped their price objective on Laurentian Bank of Canada from C$29.00 to C$31.00 in a research note on Wednesday. Scotiabank increased their price target 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. Finally, CIBC lifted their price target on Laurentian Bank of Canada from C$28.00 to C$33.00 and gave the company a "neutral" rating in a research note on Tuesday, June 3rd. Three analysts have rated the stock with a sell rating and five have issued a hold rating to the company. According to data from MarketBeat, Laurentian Bank of Canada presently has a consensus rating of "Hold" and an average price target of C$30.14.

Laurentian Bank of Canada Stock Down 0.8%

The firm has a market capitalization of C$1.36 billion, a price-to-earnings ratio of -245.65, a P/E/G ratio of 0.76 and a beta of 1.25. The company's 50 day moving average is C$30.74 and its 200 day moving average is C$28.54.

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.