Laurentian Bank of Canada (TSE:LB) PT Set at C$33.00 by Scotiabank

Laurentian Bank of Canada (TSE:LB) has been given a C$33.00 price target by analysts at Scotiabank in a report released on Tuesday,BayStreet.CA reports. The firm currently has a “sector perform” rating on the stock. Scotiabank’s price target would indicate a potential downside of 1.37% from the company’s previous close.

Other analysts have also issued research reports about the stock. Jefferies Financial Group upped their target price on shares of Laurentian Bank of Canada from C$29.00 to C$31.00 in a research note on Wednesday, August 13th. CIBC increased their price objective on shares of Laurentian Bank of Canada from C$33.00 to C$35.00 and gave the company a “neutral” rating in a research note on Wednesday, August 20th. Desjardins boosted their target price on Laurentian Bank of Canada from C$29.00 to C$30.00 and gave the stock a “sell” rating in a research note on Wednesday, August 13th. Raymond James Financial upped their target price on Laurentian Bank of Canada from C$28.00 to C$30.00 and gave the company a “market perform” rating in a report on Tuesday, September 2nd. Finally, National Bankshares cut their price objective on Laurentian Bank of Canada from C$27.00 to C$26.00 and set an “underperform” rating on the stock in a research report on Tuesday, September 2nd. Four investment analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of C$30.71.

Laurentian Bank of Canada Price Performance

Shares of TSE:LB traded up C$0.33 during midday trading on Tuesday, hitting C$33.46. 72,755 shares of the company’s stock were exchanged, compared to its average volume of 203,973. Laurentian Bank of Canada has a 12 month low of C$24.37 and a 12 month high of C$34.10. The company has a market cap of C$1.48 billion, a PE ratio of 10.97, a price-to-earnings-growth ratio of 0.76 and a beta of 1.47. The stock has a 50 day moving average price of C$32.77 and a 200-day moving average price of C$31.24.

Laurentian Bank of Canada (TSE:LB) last announced its quarterly earnings results on Friday, August 29th. The company reported C$0.73 earnings per share for the quarter, beating the consensus estimate of C$0.72 by C$0.01. Laurentian Bank of Canada had a negative net margin of 0.30% and a negative return on equity of 0.20%. During the same period in the previous year, the business posted $0.88 EPS. On average, analysts anticipate that Laurentian Bank of Canada will post 3.8414986 EPS for the current fiscal year.

About Laurentian Bank of Canada

Laurentian Bank of Canada provides personal banking, business banking and real estate and commercial financing to its personal, business, and institutional customers across Canada and the United States. The company reports three operating segments: personal, business services, and capital markets. The personal segment offers financial services to retail clients.