Laurentian Bank of Canada (TSE:LB) Price Target Raised to C$28.00

Laurentian Bank of Canada (TSE:LB) had its price target increased by equities researchers at BMO Capital Markets from C$27.00 to C$28.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. BMO Capital Markets’ price objective indicates a potential downside of 1.37% from the company’s current price.

Several other analysts also recently commented on LB. CIBC cut their price objective on shares of Laurentian Bank of Canada from C$30.00 to C$28.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 20th. Desjardins increased their price target on Laurentian Bank of Canada from C$25.00 to C$26.00 and gave the stock a “sell” rating in a research report on Tuesday, August 6th. Raymond James boosted their price objective on Laurentian Bank of Canada from C$26.00 to C$27.00 in a report on Wednesday, September 4th. Finally, Cibc World Mkts raised Laurentian Bank of Canada to a “hold” rating in a report on Wednesday, August 21st. Three analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to MarketBeat, Laurentian Bank of Canada currently has an average rating of “Hold” and an average price target of C$26.55.

Laurentian Bank of Canada Stock Performance

Shares of LB opened at C$28.39 on Monday. The stock has a 50-day moving average of C$26.91 and a two-hundred day moving average of C$26.51. The stock has a market cap of C$1.25 billion, a P/E ratio of -45.79, a P/E/G ratio of 0.76 and a beta of 1.25. Laurentian Bank of Canada has a one year low of C$24.45 and a one year high of C$29.49.

Laurentian Bank of Canada (TSE:LB) last released its earnings results on Friday, August 30th. The company reported C$0.88 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 the consensus estimate of C$257.90 million. Analysts predict that Laurentian Bank of Canada will post 3.8414986 EPS for the current fiscal 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.