Laurentian Bank of Canada (LB) Price Target Raised to C$56.00

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Laurentian Bank of Canada (TSE:LB) had its price objective boosted by investment analysts at Royal Bank of Canada from C$55.00 to C$56.00 in a report issued on Wednesday. The brokerage presently has a “sector perform” rating on the stock. Royal Bank of Canada’s price target points to a potential upside of 29.39% from the company’s previous close.

LB has been the topic of a number of other reports. CIBC cut shares of Laurentian Bank of Canada from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from C$55.00 to C$49.00 in a research note on Wednesday, May 30th. Cormark raised their price objective on shares of Laurentian Bank of Canada from C$52.00 to C$53.00 in a research note on Monday, June 4th. Scotiabank reduced their price objective on shares of Laurentian Bank of Canada from C$54.00 to C$52.00 and set a “sector perform” rating on the stock in a research note on Monday, June 4th. TD Securities reduced their price objective on shares of Laurentian Bank of Canada from C$58.00 to C$55.00 and set a “buy” rating on the stock in a research note on Monday, June 4th. Finally, Barclays reduced their price objective on shares of Laurentian Bank of Canada from C$55.00 to C$52.00 in a research note on Monday, June 4th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of C$50.91.

Shares of LB traded down C$0.35 during mid-day trading on Wednesday, hitting C$43.28. 685,913 shares of the company traded hands, compared to its average volume of 282,734. Laurentian Bank of Canada has a one year low of C$43.06 and a one year high of C$62.90.

Laurentian Bank of Canada (TSE:LB) last announced its quarterly earnings data on Tuesday, September 4th. The company reported C$1.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$1.47 by C($0.13). Laurentian Bank of Canada had a net margin of 21.88% and a return on equity of 11.79%. The business had revenue of C$260.66 million during the quarter, compared to the consensus estimate of C$267.51 million.

About Laurentian Bank of Canada

Laurentian Bank of Canada, together with its subsidiaries, provides banking services to individuals, small and medium-sized enterprises, and independent advisors in Canada and the United States. It operates through four segments: Retail Services, Business Services, B2B Bank, and Capital Markets. The company offers transactional products and current accounts, term deposits, and investment accounts; personal line of credit, personal loans, student loans, and registered retirement savings plans; financing for agriculture, real estate, and commercial industries, as well as small and medium-sized enterprises; mortgage solutions, such as variable-rate mortgage, fixed-rate mortgage, equity line of credit, mortgage insurance, and retirement line of credit; and credit and business cards, as well as equipment finance and leasing solutions.

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Analyst Recommendations for Laurentian Bank of Canada (TSE:LB)

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