Laurentian Bank of Canada (TSE:LB) Stock Price Expected to Rise, Scotiabank Analyst Says

Laurentian Bank of Canada (TSE:LB) had its price objective raised by equities researchers at Scotiabank from C$26.00 to C$30.00 in a note issued to investors on Monday,BayStreet.CA reports. Scotiabank’s target price would suggest a potential upside of 2.42% from the company’s current price.

Several other research analysts have also recently issued reports on the company. CIBC dropped their price target on Laurentian Bank of Canada from C$30.00 to C$28.00 and set a “neutral” rating on the stock in a report on Tuesday, August 20th. BMO Capital Markets boosted their target price on shares of Laurentian Bank of Canada from C$27.00 to C$28.00 in a research note on Monday, November 18th. Desjardins boosted their target price on shares of Laurentian Bank of Canada from C$25.00 to C$26.00 and gave the company a “sell” rating in a research note on Tuesday, August 6th. Cibc World Mkts raised shares of Laurentian Bank of Canada to a “hold” rating in a research report on Wednesday, August 21st. Finally, Raymond James upped their price objective on shares of Laurentian Bank of Canada from C$26.00 to C$27.00 in a research report on Wednesday, September 4th. Three investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of C$27.10.

Laurentian Bank of Canada Stock Performance

TSE LB opened at C$29.29 on Monday. The stock has a market capitalization of C$1.29 billion, a P/E ratio of -47.13, a P/E/G ratio of 0.76 and a beta of 1.25. Laurentian Bank of Canada has a 1 year low of C$24.45 and a 1 year high of C$29.49. The business’s fifty day moving average is C$27.09 and its two-hundred day moving average is C$26.58.

Laurentian Bank of Canada (TSE:LB) last posted its quarterly earnings results on Friday, August 30th. The company reported C$0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.85 by C$0.03. The company had revenue of C$256.50 million for the quarter, compared to analysts’ expectations of C$257.90 million. Laurentian Bank of Canada had a negative return on equity of 0.55% and a negative net margin of 1.64%. On average, research analysts forecast that Laurentian Bank of Canada will post 3.8414986 earnings per share for the current year.

Laurentian Bank of Canada Company Profile

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 Personal Banking segment offers financial services, such as financial advisory services to financial intermediaries; and operates digital direct-to-customer platform to retail clients.