Laurentian Bank of Canada (TSE:LB) Given New C$30.00 Price Target at Credit Suisse Group

Laurentian Bank of Canada (TSE:LB) had its price objective decreased by Credit Suisse Group from C$33.00 to C$30.00 in a research report issued to clients and investors on Friday, Stock Target Advisor reports. Credit Suisse Group’s target price indicates a potential upside of 5.56% from the company’s previous close.

Several other equities research analysts also recently commented on LB. Royal Bank of Canada lowered their price objective on shares of Laurentian Bank of Canada from C$48.00 to C$42.00 and set a “sector perform” rating for the company in a research note on Monday, March 2nd. National Bank Financial lowered their price objective on shares of Laurentian Bank of Canada to C$22.00 and set an “underperform” rating for the company in a research note on Sunday, May 17th. BMO Capital Markets lowered their price objective on shares of Laurentian Bank of Canada from C$44.00 to C$40.00 in a research note on Monday, March 2nd. TD Securities lowered their price objective on shares of Laurentian Bank of Canada from C$40.00 to C$34.00 and set a “hold” rating for the company in a research note on Thursday, March 26th. Finally, Scotiabank downgraded shares of Laurentian Bank of Canada from a “sector perform” rating to an “underperform” rating and lowered their price objective for the stock from C$37.00 to C$25.00 in a research note on Tuesday, March 31st. Two investment analysts have rated the stock with a sell rating and four have issued a hold rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of C$33.75.

LB traded down C$0.81 during trading on Friday, hitting C$28.42. The stock had a trading volume of 351,444 shares, compared to its average volume of 328,367. The company has a market capitalization of $1.25 billion and a PE ratio of 7.97. Laurentian Bank of Canada has a twelve month low of C$26.83 and a twelve month high of C$46.99. The stock has a 50 day simple moving average of C$29.74 and a two-hundred day simple moving average of C$39.62.

Laurentian Bank of Canada (TSE:LB) last announced its earnings results on Friday, February 28th. The company reported C$0.79 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of C$1.05 by C($0.26). The business had revenue of C$238.71 million for the quarter, compared to the consensus estimate of C$247.80 million. On average, sell-side analysts anticipate that Laurentian Bank of Canada will post 3.33 EPS for the current fiscal year.

Laurentian Bank of Canada Company Profile

Laurentian Bank of Canada, together with its subsidiaries, provides banking services to individuals, small and medium-sized enterprises, and independent advisors in Canada and the United States. It operates through four segments: Retail Services, Business Services, B2B Bank, and Capital Markets. The company offers transactional products and current accounts, term deposits, and investment accounts; personal line of credit, personal loans, student loans, and registered retirement savings plans; financing for agriculture, real estate, and commercial industries, as well as small and medium-sized enterprises; mortgage solutions, such as variable-rate mortgage, fixed-rate mortgage, equity line of credit, mortgage insurance, and retirement line of credit; and credit and business cards, as well as equipment finance solutions.

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