Laurentian Bank of Canada (TSE:LB) Given New C$40.00 Price Target at Desjardins

Laurentian Bank of Canada (TSE:LB) had its price objective trimmed by Desjardins from C$50.00 to C$40.00 in a report published on Monday morning,BayStreet.CA reports. The firm currently has a tender rating on the stock.

Other analysts also recently issued research reports about the company. Raymond James Financial downgraded Laurentian Bank of Canada from a “market perform” rating to an “underperform” rating in a research note on Monday, December 8th. Canadian Imperial Bank of Commerce lowered shares of Laurentian Bank of Canada from a “neutral” rating to a “tender” rating and increased their price objective for the company from C$35.00 to C$40.50 in a report on Monday, December 8th. Royal Bank Of Canada upgraded shares of Laurentian Bank of Canada from a “strong sell” rating to a “hold” rating and lifted their price objective for the company from C$25.00 to C$40.00 in a research report on Monday, December 8th. Scotiabank set a C$33.00 target price on shares of Laurentian Bank of Canada and gave the stock a “sector perform” rating in a report on Tuesday, November 25th. Finally, BMO Capital Markets upped their target price on shares of Laurentian Bank of Canada from C$31.00 to C$40.50 in a research report on Monday, December 8th. Two equities research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, Laurentian Bank of Canada has a consensus rating of “Strong Sell” and a consensus target price of C$36.44.

Laurentian Bank of Canada Stock Performance

LB opened at C$40.07 on Monday. The stock has a market cap of C$1.79 billion, a price-to-earnings ratio of 14.11, a price-to-earnings-growth ratio of 0.76 and a beta of 1.49. The firm’s fifty day moving average is C$40.01 and its 200 day moving average is C$34.92. Laurentian Bank of Canada has a fifty-two week low of C$24.37 and a fifty-two week high of C$40.42.

Laurentian Bank of Canada (TSE:LB) last issued its quarterly earnings results on Friday, December 5th. The company reported C$0.73 earnings per share (EPS) for the quarter. The business had revenue of C$244.71 million during the quarter. Laurentian Bank of Canada had a negative return on equity of 0.20% and a negative net margin of 0.30%. On average, equities research analysts predict that Laurentian Bank of Canada will post 3.8414986 earnings per share for the current 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. The business services segment provides financial services, commercial banking, real estate financing, and equipment and inventory financing to business clients.