Laurentian Bank of Canada (TSE:LB) had its price target reduced by BMO Capital Markets from C$50.00 to C$45.00 in a research report issued to clients and investors on Thursday. The firm presently has a “market perform” rating on the stock. BMO Capital Markets’ target price points to a potential upside of 19.59% from the company’s previous close.
Several other brokerages have also weighed in on LB. Canaccord Genuity cut their target price on Laurentian Bank of Canada from C$44.00 to C$40.00 in a research report on Thursday, November 22nd. National Bank Financial cut their target price on Laurentian Bank of Canada from C$48.00 to C$45.00 and set a “sector perform” rating on the stock in a research report on Wednesday, September 5th. Barclays cut their target price on Laurentian Bank of Canada from C$52.00 to C$49.00 in a research report on Wednesday, September 5th. TD Securities cut their target price on Laurentian Bank of Canada from C$55.00 to C$51.00 and set a “buy” rating on the stock in a research report on Wednesday, September 5th. Finally, CIBC cut their price target on Laurentian Bank of Canada from C$49.00 to C$47.00 in a research report on Wednesday, September 5th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of C$46.64.
LB stock traded down C$2.19 during mid-day trading on Thursday, reaching C$37.63. The company had a trading volume of 1,104,067 shares, compared to its average volume of 288,115. Laurentian Bank of Canada has a fifty-two week low of C$37.05 and a fifty-two week high of C$58.08.
Laurentian Bank of Canada (TSE:LB) last posted its quarterly earnings results on Tuesday, September 4th. The company reported C$1.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$1.47 by C($0.13). The business had revenue of C$260.66 million during the quarter, compared to the consensus estimate of C$267.51 million. Equities analysts forecast that Laurentian Bank of Canada will post 5.25253884346406 EPS for the current fiscal year.
In related news, insider William James Alexander Mason bought 2,000 shares of the stock in a transaction on Friday, September 7th. The shares were bought at an average cost of C$42.50 per share, for a total transaction of C$85,000.00.
About Laurentian Bank of Canada
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 and leasing solutions.
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