Laurentian Bank of Canada (TSE:LB) PT Raised to C$26.00

Laurentian Bank of Canada (TSE:LB) had its price target boosted by equities research analysts at Desjardins from C$25.00 to C$26.00 in a note issued to investors on Tuesday, BayStreet.CA reports. The brokerage presently has a “sell” rating on the stock. Desjardins’ target price suggests a potential upside of 3.50% from the stock’s previous close.

Several other equities analysts have also commented on LB. Jefferies Financial Group reduced their price target on Laurentian Bank of Canada from C$28.00 to C$26.00 and set a “hold” rating on the stock in a research report on Thursday, June 6th. Raymond James reduced their price target on Laurentian Bank of Canada from C$27.00 to C$26.00 and set a “market perform” rating on the stock in a research report on Tuesday, June 4th. CIBC reduced their price target on Laurentian Bank of Canada from C$33.00 to C$30.00 and set a “neutral” rating on the stock in a research report on Monday, June 3rd. Royal Bank of Canada reduced their price target on Laurentian Bank of Canada from C$26.00 to C$25.00 and set an “underperform” rating on the stock in a research report on Monday, June 3rd. Finally, National Bankshares reduced their price target on Laurentian Bank of Canada from C$27.00 to C$26.00 and set an “underperform” rating on the stock in a research report on Monday, June 3rd. Three investment analysts have rated the stock with a sell rating and ten have assigned a hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of C$28.39.

Laurentian Bank of Canada Stock Performance

Shares of TSE:LB traded down C$0.42 during trading on Tuesday, reaching C$25.12. 116,100 shares of the stock were exchanged, compared to its average volume of 196,025. Laurentian Bank of Canada has a 12-month low of C$24.45 and a 12-month high of C$40.60. The firm has a market cap of C$1.10 billion, a price-to-earnings ratio of 7.07, a price-to-earnings-growth ratio of 0.76 and a beta of 1.28. The firm’s 50-day moving average price is C$26.12 and its 200 day moving average price is C$26.65.

Laurentian Bank of Canada (TSE:LB) last issued its earnings results on Friday, May 31st. The company reported C$0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.84 by C$0.06. Laurentian Bank of Canada had a return on equity of 5.84% and a net margin of 17.33%. The business had revenue of C$252.59 million during the quarter, compared to analysts’ expectations of C$253.47 million. As a group, equities research analysts forecast that Laurentian Bank of Canada will post 3.7793103 EPS for the current year.

About Laurentian Bank of Canada

Laurentian Bank of Canada, together with its subsidiaries, provides various financial services to personal, business, and institutional customers in Canada and the United States. It operates through three segments: Personal Banking, Commercial Banking, and Capital Markets. The Personal Banking segment offers financial services, such as financial advisory services to financial intermediaries; and operates digital direct-to-customer platform to retail clients.