Scotiabank Lowers Laurentian Bank of Canada (TSE:LB) Price Target to C$29.00

Laurentian Bank of Canada (TSE:LB) had its price objective cut by stock analysts at Scotiabank from C$38.00 to C$29.00 in a research report issued to clients and investors on Tuesday, BayStreet.CA reports. The firm presently has a “sector perform” rating on the stock. Scotiabank’s target price points to a potential upside of 12.53% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on LB. TD Securities dropped their target price on shares of Laurentian Bank of Canada from C$45.00 to C$36.00 and set a “buy” rating on the stock in a report on Tuesday, October 3rd. Cormark lowered Laurentian Bank of Canada from a “buy” rating to a “market perform” rating and cut their price objective for the stock from C$43.00 to C$40.00 in a report on Thursday, September 14th. Royal Bank of Canada downgraded Laurentian Bank of Canada from a “sector perform” rating to an “underperform” rating and lowered their target price for the company from C$39.00 to C$33.00 in a report on Thursday, September 14th. National Bankshares set a C$27.00 price target on Laurentian Bank of Canada and gave the company an “underperform” rating in a research note on Tuesday. Finally, CIBC lowered shares of Laurentian Bank of Canada from an “outperform” rating to a “neutral” rating and reduced their price target for the company from C$54.00 to C$37.00 in a research report on Friday, September 15th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Laurentian Bank of Canada currently has an average rating of “Hold” and a consensus price target of C$34.58.

Laurentian Bank of Canada Trading Down 1.9 %

LB traded down C$0.49 during trading on Tuesday, hitting C$25.77. 175,440 shares of the company’s stock traded hands, compared to its average volume of 191,190. The stock has a market capitalization of C$1.12 billion, a price-to-earnings ratio of 5.75, a PEG ratio of 0.76 and a beta of 1.31. The company’s 50 day simple moving average is C$27.89 and its two-hundred day simple moving average is C$33.08. Laurentian Bank of Canada has a 12-month low of C$24.95 and a 12-month high of C$48.23.

Laurentian Bank of Canada (TSE:LB) last released its quarterly earnings data on Thursday, August 31st. The company reported C$1.22 EPS for the quarter, beating the consensus estimate of C$1.15 by C$0.07. Laurentian Bank of Canada had a return on equity of 7.43% and a net margin of 21.20%. The company had revenue of C$260.83 million for the quarter, compared to analysts’ expectations of C$263.60 million. On average, equities analysts expect that Laurentian Bank of Canada will post 4.9015152 EPS 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.