Laurentian Bank of Canada (TSE:LB) Price Target Raised to C$31.00

Laurentian Bank of Canada (TSE:LB) had its price target raised by investment analysts at CIBC from C$28.00 to C$31.00 in a report issued on Tuesday,BayStreet.CA reports. CIBC’s price objective would indicate a potential upside of 5.98% from the stock’s current price.

LB has been the subject of a number of other reports. Desjardins increased their price target 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. BMO Capital Markets raised their target price on Laurentian Bank of Canada from C$27.00 to C$28.00 in a research report on Monday, November 18th. Cibc World Mkts raised Laurentian Bank of Canada to a “hold” rating in a research report on Wednesday, August 21st. Raymond James raised their target price on Laurentian Bank of Canada from C$26.00 to C$27.00 in a research report on Wednesday, September 4th. Finally, Scotiabank raised their target price on Laurentian Bank of Canada from C$26.00 to C$30.00 in a research report on Monday. Three research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of C$27.10.

Laurentian Bank of Canada Stock Performance

Shares of Laurentian Bank of Canada stock traded down C$0.04 on Tuesday, hitting C$29.25. The company had a trading volume of 72,538 shares, compared to its average volume of 232,548. The stock has a market capitalization of C$1.28 billion, a price-to-earnings ratio of -47.13, a P/E/G ratio of 0.76 and a beta of 1.25. 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 50 day moving average of C$27.09 and a 200-day moving average of C$26.58.

Laurentian Bank of Canada (TSE:LB) last issued its quarterly earnings results on Friday, August 30th. The company reported C$0.88 EPS for the quarter, beating analysts’ consensus estimates of C$0.85 by C$0.03. The company had revenue of C$256.50 million during the quarter, compared to the consensus estimate 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%. Equities analysts anticipate that Laurentian Bank of Canada will post 3.8414986 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.