Laurentian Bank of Canada (TSE:LB) had its price target lowered by stock analysts at National Bank Financial from C$45.00 to C$41.00 in a research report issued to clients and investors on Thursday. The brokerage presently has a “sector perform” rating on the stock. National Bank Financial’s price target suggests a potential upside of 8.96% from the stock’s previous close.
Several other analysts have also issued reports on LB. TD Securities lowered their price target on shares of 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. Barclays lowered their price target on shares of Laurentian Bank of Canada from C$52.00 to C$49.00 in a research report on Wednesday, September 5th. Cormark lowered their price target on shares of Laurentian Bank of Canada from C$53.00 to C$45.00 in a research report on Wednesday, September 5th. Canaccord Genuity reduced their price objective on shares of Laurentian Bank of Canada from C$44.00 to C$40.00 in a research note on Thursday, November 22nd. Finally, CIBC reduced their price objective on shares of Laurentian Bank of Canada from C$49.00 to C$47.00 in a research note on Wednesday, September 5th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of C$46.64.
LB stock traded down C$2.19 during mid-day trading on Thursday, hitting 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 12 month low of C$37.05 and a 12 month 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 the consensus estimate of C$1.47 by C($0.13). The firm had revenue of C$260.66 million for the quarter, compared to the consensus estimate of C$267.51 million. Research analysts predict that Laurentian Bank of Canada will post 5.25253884346406 earnings per share for the current year.
In related news, insider William James Alexander Mason purchased 2,000 shares of the business’s stock in a transaction on Friday, September 7th. The stock was acquired at an average price of C$42.50 per share, with a total value of C$85,000.00.
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 and leasing solutions.
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