Laurentian Bank of Canada (TSE:LB) Price Target Lowered to C$26.00 at National Bankshares

Key Points

• National Bankshares has lowered the price target for Laurentian Bank of Canada from C$27.00 to C$26.00, indicating a potential downside of 15% from the stock's previous close.
• Despite mixed ratings from analysts, including multiple "sell" and "hold" ratings, the average price target for the stock is currently C$30.57.
• Laurentian Bank recently reported earnings of C$0.73 per share, slightly exceeding analyst expectations, but continues to face challenges with negative net margins and return on equity.

Laurentian Bank of Canada (TSE:LB - Get Free Report) had its price objective dropped by analysts at National Bankshares from C$27.00 to C$26.00 in a research note issued on Tuesday,BayStreet.CA reports. The brokerage currently has an "underperform" rating on the stock. National Bankshares' price target points to a potential downside of 15.00% from the stock's previous close.

Other equities analysts have also issued research reports about the stock. Desjardins raised their price objective on shares of 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. CIBC raised their price objective on shares of Laurentian Bank of Canada from C$33.00 to C$35.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 20th. Scotiabank raised their price objective on shares of Laurentian Bank of Canada from C$28.00 to C$32.00 and gave the stock a "sector perform" rating in a research note on Tuesday, June 3rd. Veritas raised shares of Laurentian Bank of Canada to a "strong sell" rating in a research note on Monday, June 2nd. Finally, Raymond James Financial lifted their target price on shares of Laurentian Bank of Canada from C$28.00 to C$30.00 and gave the company a "market perform" rating in a research note on Tuesday. 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.com, Laurentian Bank of Canada currently has an average rating of "Reduce" and an average price target of C$30.57.

Laurentian Bank of Canada Stock Up 0.3%

TSE:LB traded up C$0.09 during trading hours on Tuesday, reaching C$30.59. 200,841 shares of the company's stock were exchanged, compared to its average volume of 191,177. The business's 50-day simple moving average is C$30.89 and its two-hundred day simple moving average is C$28.79. Laurentian Bank of Canada has a 12 month low of C$24.37 and a 12 month high of C$31.74. The company has a market capitalization of C$1.36 billion, a P/E ratio of 10.03, a price-to-earnings-growth ratio of 0.76 and a beta of 1.65.

Laurentian Bank of Canada (TSE:LB - Get Free Report) last posted its quarterly earnings data on Friday, August 29th. The company reported C$0.73 EPS for the quarter, topping analysts' consensus estimates 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 last year, the business posted $0.88 earnings per share. As a group, sell-side analysts anticipate that Laurentian Bank of Canada will post 3.8414986 earnings per share 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.

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