Laurentian Bank of Canada (TSE:LB) Receives New Coverage from Analysts at Credit Suisse Group

Equities research analysts at Credit Suisse Group assumed coverage on shares of Laurentian Bank of Canada (TSE:LB – Get Rating) in a report released on Friday, Marketbeat Ratings reports. The brokerage set a “sell” rating and a C$39.00 price target on the stock. Credit Suisse Group’s price objective indicates a potential upside of 5.29% from the stock’s previous close.

A number of other equities analysts have also commented on the company. CIBC dropped their price target on Laurentian Bank of Canada from C$44.00 to C$41.00 in a research note on Tuesday, May 17th. Barclays lowered their price objective on Laurentian Bank of Canada from C$46.00 to C$40.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 11th. CSFB set a C$39.00 price target on Laurentian Bank of Canada and gave the stock an “underperform” rating in a report on Friday. Veritas Investment Research restated a “sell” rating on shares of Laurentian Bank of Canada in a report on Thursday, February 10th. Finally, National Bankshares raised their price objective on Laurentian Bank of Canada from C$47.00 to C$49.00 in a report on Wednesday, February 23rd. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Laurentian Bank of Canada presently has a consensus rating of “Hold” and an average price target of C$45.00.

Laurentian Bank of Canada stock traded down C$0.56 during trading hours on Friday, reaching C$37.04. The company had a trading volume of 164,248 shares, compared to its average volume of 216,099. The company has a 50-day moving average price of C$40.43 and a 200 day moving average price of C$41.31. The firm has a market cap of C$1.60 billion and a price-to-earnings ratio of 29.80. Laurentian Bank of Canada has a 12-month low of C$36.54 and a 12-month high of C$45.29.

Laurentian Bank of Canada (TSE:LB – Get Rating) last posted its earnings results on Wednesday, March 2nd. The company reported C$1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of C$1.22 by C$0.04. The business had revenue of C$257.54 million for the quarter, compared to analysts’ expectations of C$254.10 million. Analysts anticipate that Laurentian Bank of Canada will post 5.111354 earnings per share for the current year.

About Laurentian Bank of Canada (Get Rating)

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 company offers notice, demand, and term deposits; commercial, residential mortgage, and personal loans; real estate, and equipment and inventory financing; and credit life and disability insurance products.

Read More