Laurentian Bank of Canada (TSE:LB) Price Target Cut to C$49.00

Laurentian Bank of Canada (TSE:LB) had its target price lowered by stock analysts at Royal Bank of Canada from C$52.00 to C$49.00 in a note issued to investors on Wednesday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price suggests a potential upside of 25.00% from the company’s previous close.

Several other equities research analysts also recently issued reports on the stock. National Bank Financial raised their price objective on shares of Laurentian Bank of Canada to C$47.00 and gave the stock a “sector perform” rating in a research report on Thursday, September 2nd. CSFB lifted their price target on shares of Laurentian Bank of Canada from C$42.00 to C$44.00 in a research report on Thursday, September 2nd. Scotiabank decreased their price objective on shares of Laurentian Bank of Canada from C$48.00 to C$46.00 in a research note on Tuesday, August 17th. CIBC reissued an “underperform” rating and issued a C$43.00 price objective on shares of Laurentian Bank of Canada in a research note on Wednesday, September 1st. Finally, Cormark decreased their target price on shares of Laurentian Bank of Canada from C$47.00 to C$46.00 and set a “buy” rating on the stock in a research note on Thursday, September 2nd. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of C$45.80.

Shares of TSE LB opened at C$39.20 on Wednesday. The stock has a market capitalization of C$1.71 billion and a price-to-earnings ratio of 9.29. The business has a 50-day moving average of C$41.24 and a 200-day moving average of C$42.35. Laurentian Bank of Canada has a fifty-two week low of C$30.55 and a fifty-two week high of C$45.13.

Laurentian Bank of Canada (TSE:LB) last announced its quarterly earnings data on Wednesday, September 1st. The company reported C$1.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of C$1.11 by C$0.14. The company had revenue of C$254.88 million during the quarter, compared to the consensus estimate of C$249.30 million. On average, sell-side analysts anticipate that Laurentian Bank of Canada will post 4.3489445 earnings per share for the current fiscal year.

About Laurentian Bank of Canada

Laurentian Bank of Canada, together with its subsidiaries, provides various financial services to individuals, business, and institutional customers in Canada and the United States. It operates through Personal, Business Services, and Institutional segments. The company offers notice, demand, and term deposits; commercial, residential mortgage, and personal loans; equipment and inventory, and real estate financing; and credit life and disability insurance products.

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

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