Laurentian Bank of Canada (LB) Price Target Cut to C$55.00

Laurentian Bank of Canada (TSE:LB) had its price target cut by analysts at CSFB from C$57.00 to C$55.00 in a research note issued on Friday. CSFB’s price objective would suggest a potential upside of 3.95% from the company’s previous close.

Several other equities research analysts have also recently weighed in on LB. National Bank Financial reaffirmed a “sector perform market weight” rating on shares of Laurentian Bank of Canada in a research note on Tuesday. Scotiabank dropped their target price on Laurentian Bank of Canada from C$64.00 to C$59.00 and set a “sector perform” rating on the stock in a report on Wednesday. Barclays dropped their target price on Laurentian Bank of Canada from C$62.00 to C$59.00 in a report on Wednesday. Desjardins dropped their target price on Laurentian Bank of Canada from C$60.00 to C$59.00 in a report on Wednesday, December 6th. Finally, CIBC boosted their target price on Laurentian Bank of Canada from C$61.00 to C$66.00 in a report on Monday, November 13th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of C$59.10.

Shares of Laurentian Bank of Canada (TSE:LB) traded down C$0.11 during mid-day trading on Friday, reaching C$52.91. The company had a trading volume of 386,146 shares, compared to its average volume of 398,696. The stock has a market capitalization of $2,060.00, a PE ratio of 9.82 and a beta of 0.48. Laurentian Bank of Canada has a 12 month low of C$51.57 and a 12 month high of C$62.90.

Laurentian Bank of Canada (TSE:LB) last issued its quarterly earnings results on Tuesday, December 5th. The company reported C$1.63 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of C$1.54 by C$0.09. Laurentian Bank of Canada had a return on equity of 11.90% and a net margin of 22.10%.

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Laurentian Bank of Canada Company Profile

Laurentian Bank of Canada is a Canada-based Chartered bank. The Bank and its subsidiaries provide banking services to individuals, and small and medium-sized enterprises, as well as to independent advisors across Canada. It also operates as a full-service brokerage firm. The Bank’s loan portfolio consists of personal loans, residential mortgage loans, commercial mortgage loans and commercial loans, including acceptances and finance lease receivables.

Analyst Recommendations for Laurentian Bank of Canada (TSE:LB)

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