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

Laurentian Bank of Canada (TSE:LB) had its price objective upped by equities research analysts at Scotiabank from C$26.00 to C$30.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. Scotiabank’s price objective indicates a potential upside of 2.42% from the company’s previous close.

LB has been the topic of a number of other research reports. CIBC reduced 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 report on Tuesday, August 20th. Desjardins raised 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. Cibc World Mkts raised Laurentian Bank of Canada to a “hold” rating in a research report on Wednesday, August 21st. Raymond James raised their price target on Laurentian Bank of Canada from C$26.00 to C$27.00 in a research report on Wednesday, September 4th. Finally, BMO Capital Markets raised their price target on Laurentian Bank of Canada from C$27.00 to C$28.00 in a research report on Monday, November 18th. Three equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of C$27.10.

Laurentian Bank of Canada Stock Performance

Shares of LB opened at C$29.29 on Monday. Laurentian Bank of Canada has a 1 year low of C$24.45 and a 1 year high of C$29.49. The stock has a market cap of C$1.29 billion, a P/E ratio of -47.13, a price-to-earnings-growth ratio of 0.76 and a beta of 1.25. The stock’s 50-day moving average price is C$27.09 and its two-hundred day moving average price is C$26.58.

Laurentian Bank of Canada (TSE:LB) last issued its earnings results 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 for the quarter, compared to analysts’ expectations of C$257.90 million. As a group, equities analysts forecast 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.