Laurentian Bank of Canada (TSE:LB) Price Target Raised to C$31.00

Laurentian Bank of Canada (TSE:LB) had its price objective raised by investment analysts at CIBC from C$28.00 to C$31.00 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. CIBC’s price target indicates a potential upside of 5.98% from the company’s current price.

A number of other research firms have also recently issued reports on LB. Desjardins upped their price objective on Laurentian Bank of Canada from C$25.00 to C$26.00 and gave the stock a “sell” rating in a report on Tuesday, August 6th. Raymond James boosted their target price on Laurentian Bank of Canada from C$26.00 to C$27.00 in a research note on Wednesday, September 4th. BMO Capital Markets boosted their target price on Laurentian Bank of Canada from C$27.00 to C$28.00 in a research note on Monday, November 18th. Cibc World Mkts raised Laurentian Bank of Canada to a “hold” rating in a research note on Wednesday, August 21st. Finally, Scotiabank boosted their target price on Laurentian Bank of Canada from C$26.00 to C$30.00 in a research note on Monday. Three investment analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. According to MarketBeat.com, Laurentian Bank of Canada currently has a consensus rating of “Hold” and a consensus price target of C$27.10.

Laurentian Bank of Canada Stock Down 0.1 %

TSE:LB traded down C$0.04 during trading hours on Tuesday, hitting C$29.25. 72,538 shares of the company’s stock traded hands, compared to its average volume of 232,548. The firm has a market cap of C$1.28 billion, a P/E ratio of -47.13, a P/E/G ratio of 0.76 and a beta of 1.25. Laurentian Bank of Canada has a 52 week low of C$24.45 and a 52 week high of C$29.49. The business’s fifty day simple moving average is C$27.09 and its two-hundred day simple moving average is C$26.58.

Laurentian Bank of Canada (TSE:LB) last posted its quarterly earnings data on Friday, August 30th. The company reported C$0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.85 by C$0.03. Laurentian Bank of Canada had a negative return on equity of 0.55% and a negative net margin of 1.64%. The firm had revenue of C$256.50 million during the quarter, compared to analysts’ expectations of C$257.90 million. On average, analysts expect that Laurentian Bank of Canada will post 3.8414986 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.