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

Key Points

• Raymond James Financial has increased its target price for Laurentian Bank of Canada stock from C$28.00 to C$30.00, while maintaining a "market perform" rating.
• CIBC also raised its price objective from C$33.00 to C$35.00, indicating a general increase in positive sentiment from several analysts.
• Laurentian Bank reported C$0.73 earnings per share for the last quarter, surpassing analysts' expectations of C$0.72, although the company has a negative net margin of 0.30% and negative return on equity of 0.20%.

Laurentian Bank of Canada (TSE:LB - Get Free Report) had its target price hoisted by investment analysts at Raymond James Financial from C$28.00 to C$30.00 in a note issued to investors on Tuesday,BayStreet.CA reports. The brokerage presently has a "market perform" rating on the stock. Raymond James Financial's price target would suggest a potential downside of 1.93% from the stock's previous close.

A number of other equities analysts have also commented on the stock. 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. Veritas raised shares of Laurentian Bank of Canada to a "strong sell" rating in a research note on Monday, June 2nd. 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. Desjardins lifted their target price on shares of Laurentian Bank of Canada from C$29.00 to C$30.00 and gave the company a "sell" rating in a research note on Wednesday, August 13th. Finally, Jefferies Financial Group upped their price target on shares of Laurentian Bank of Canada from C$29.00 to C$31.00 in a research note on Wednesday, August 13th. Four analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Laurentian Bank of Canada currently has a consensus rating of "Reduce" and an average target price of C$30.57.

Laurentian Bank of Canada Price Performance

Shares of Laurentian Bank of Canada stock traded up C$0.09 on Tuesday, hitting C$30.59. The company had a trading volume of 200,841 shares, compared to its average volume of 191,177. The business has a 50-day simple moving average of C$30.89 and a 200-day simple moving average of C$28.79. The company has a market cap of C$1.36 billion, a PE ratio of 10.03, a PEG ratio of 0.76 and a beta of 1.65. Laurentian Bank of Canada has a 52 week low of C$24.37 and a 52 week high of C$31.74.

Laurentian Bank of Canada (TSE:LB - Get Free Report) last issued its earnings results on Friday, August 29th. The company reported C$0.73 earnings per share 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 quarter in the previous year, the business earned $0.88 earnings per share. On average, equities research analysts predict that Laurentian Bank of Canada will post 3.8414986 earnings per share for the current fiscal year.

Laurentian Bank of Canada Company Profile

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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