Laurentian Bank of Canada (TSE:LB) Price Target Raised to C$30.00

Laurentian Bank of Canada (TSE:LB) had its price objective boosted by equities researchers at Scotiabank from C$26.00 to C$30.00 in a research report issued on Monday,BayStreet.CA reports. Scotiabank’s price objective suggests a potential upside of 2.46% from the stock’s previous close.

A number of other analysts also recently commented on LB. CIBC decreased their target price on Laurentian Bank of Canada from C$30.00 to C$28.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 20th. BMO Capital Markets upped their price objective on Laurentian Bank of Canada from C$27.00 to C$28.00 in a research report on Monday, November 18th. Raymond James upped their price objective on Laurentian Bank of Canada from C$26.00 to C$27.00 in a research report on Wednesday, September 4th. Desjardins upped their price objective on Laurentian Bank of Canada from C$25.00 to C$26.00 and gave the company a “sell” rating in a research report on Tuesday, August 6th. Finally, Cibc World Mkts upgraded Laurentian Bank of Canada to a “hold” rating in a research report on Wednesday, August 21st. Three investment analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. According to data from MarketBeat, Laurentian Bank of Canada presently has an average rating of “Hold” and an average price target of C$26.80.

Laurentian Bank of Canada Stock Up 1.6 %

LB stock traded up C$0.47 on Monday, reaching C$29.28. 135,969 shares of the company’s stock were exchanged, compared to its average volume of 232,479. The stock has a fifty day moving average of C$27.04 and a 200-day moving average of C$26.56. Laurentian Bank of Canada has a twelve month low of C$24.45 and a twelve month high of C$29.49. The firm has a market cap of C$1.29 billion, a PE ratio of -47.23, a P/E/G ratio of 0.76 and a beta of 1.25.

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