Laurentian Bank of Canada (TSE:LB) PT Lowered to C$28.00 at CIBC

Laurentian Bank of Canada (TSE:LB) had its price target cut by equities research analysts at CIBC from C$30.00 to C$28.00 in a report issued on Tuesday, BayStreet.CA reports. The brokerage currently has a “neutral” rating on the stock. CIBC’s target price would suggest a potential upside of 6.71% from the stock’s current price.

Several other research firms also recently issued reports on LB. Jefferies Financial Group dropped their price objective on shares of Laurentian Bank of Canada from C$28.00 to C$26.00 and set a “hold” rating on the stock in a report on Thursday, June 6th. Raymond James lowered their price target on Laurentian Bank of Canada from C$27.00 to C$26.00 and set a “market perform” rating on the stock in a research note on Tuesday, June 4th. Royal Bank of Canada reduced their price objective on Laurentian Bank of Canada from C$26.00 to C$25.00 and set an “underperform” rating for the company in a research report on Monday, June 3rd. Desjardins boosted 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, National Bankshares reduced their target price on Laurentian Bank of Canada from C$27.00 to C$26.00 and set an “underperform” rating for the company in a research report on Monday, June 3rd. Three analysts have rated the stock with a sell rating and ten have given a hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of C$28.24.

Laurentian Bank of Canada Trading Down 1.2 %

TSE:LB traded down C$0.33 during mid-day trading on Tuesday, hitting C$26.24. 34,889 shares of the company’s stock traded hands, compared to its average volume of 194,418. The firm has a 50 day moving average of C$26.16 and a two-hundred day moving average of C$26.57. The firm has a market capitalization of C$1.15 billion, a price-to-earnings ratio of -93.75, a price-to-earnings-growth ratio of 0.76 and a beta of 1.25. Laurentian Bank of Canada has a 12 month low of C$24.45 and a 12 month high of C$39.73.

Laurentian Bank of Canada (TSE:LB) last posted its quarterly earnings data on Friday, May 31st. The company reported C$0.90 earnings per share for the quarter, beating the consensus estimate of C$0.84 by C$0.06. Laurentian Bank of Canada had a negative return on equity of 0.01% and a negative net margin of 0.04%. The company had revenue of C$252.59 million during the quarter, compared to analysts’ expectations of C$253.47 million. As a group, equities research analysts expect that Laurentian Bank of Canada will post 3.9922601 earnings per share for the current year.

Laurentian Bank of Canada Company Profile

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.