Desjardins Cuts Laurentian Bank of Canada (TSE:LB) Price Target to C$40.00

Laurentian Bank of Canada (TSE:LB) had its price target reduced by stock analysts at Desjardins from C$50.00 to C$40.00 in a report issued on Monday,BayStreet.CA reports. The brokerage currently has a “tender” rating on the stock. Desjardins’ target price would suggest a potential downside of 0.15% from the company’s current price.

Several other brokerages have also recently issued reports on LB. Canadian Imperial Bank of Commerce cut Laurentian Bank of Canada from a “neutral” rating to a “tender” rating and boosted their price target for the company from C$35.00 to C$40.50 in a research report on Monday, December 8th. Scotiabank set a C$33.00 price objective on shares of Laurentian Bank of Canada and gave the stock a “sector perform” rating in a report on Tuesday, November 25th. Raymond James Financial cut Laurentian Bank of Canada from a “market perform” rating to an “underperform” rating in a research report on Monday, December 8th. Royal Bank Of Canada upgraded Laurentian Bank of Canada from a “strong sell” rating to a “hold” rating and lifted their price objective for the stock from C$25.00 to C$40.00 in a research report on Monday, December 8th. Finally, BMO Capital Markets increased their target price on Laurentian Bank of Canada from C$31.00 to C$40.50 in a report on Monday, December 8th. Two equities research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Laurentian Bank of Canada presently has an average rating of “Strong Sell” and an average price target of C$36.44.

Laurentian Bank of Canada Stock Up 0.2%

TSE:LB traded up C$0.06 during mid-day trading on Monday, reaching C$40.06. 63,612 shares of the stock were exchanged, compared to its average volume of 285,151. The stock has a market capitalization of C$1.79 billion, a P/E ratio of 14.11, a P/E/G ratio of 0.76 and a beta of 1.49. Laurentian Bank of Canada has a 1 year low of C$24.37 and a 1 year high of C$40.42. The company has a 50 day simple moving average of C$39.88 and a 200-day simple moving average of C$34.86.

Laurentian Bank of Canada (TSE:LB) last posted its quarterly earnings data on Friday, December 5th. The company reported C$0.73 earnings per share for the quarter. The business had revenue of C$244.71 million during the quarter. Laurentian Bank of Canada had a negative return on equity of 0.20% and a negative net margin of 0.30%. As a group, research analysts predict that Laurentian Bank of Canada will post 3.8414986 EPS for the current year.

About Laurentian Bank of Canada

Laurentian Bank of Canada provides personal banking, business banking and real estate and commercial financing to its personal, business, and institutional customers across Canada and the United States. The company reports three operating segments: personal, business services, and capital markets. The personal segment offers financial services to retail clients. The business services segment provides financial services, commercial banking, real estate financing, and equipment and inventory financing to business clients.