Scotiabank Increases Laurentian Bank of Canada (TSE:LB) Price Target to C$33.00

Key Points

• Scotiabank has raised its price target for Laurentian Bank of Canada from C$32.00 to C$33.00, indicating a potential upside of 2.45% from the current stock price.
• Analysts have mixed views on Laurentian Bank, with four giving it a Hold rating, three a Sell rating, and a consensus target price of C$30.71.
• Laurentian Bank reported a quarterly earnings per share of C$0.73, exceeding the consensus estimate of C$0.72, despite a decline in earnings compared to the previous year.

Laurentian Bank of Canada (TSE:LB - Get Free Report) had its target price raised by equities researchers at Scotiabank from C$32.00 to C$33.00 in a research note issued to investors on Friday,BayStreet.CA reports. Scotiabank's price objective points to a potential upside of 2.45% from the stock's current price.

Several other research firms also recently commented on LB. National Bankshares dropped their target price on Laurentian Bank of Canada from C$27.00 to C$26.00 and set an "underperform" rating for the company in a research report on Tuesday, September 2nd. Desjardins increased their target price on Laurentian Bank of Canada from C$29.00 to C$30.00 and gave the company a "sell" rating in a research report on Wednesday, August 13th. Raymond James Financial increased their target price on Laurentian Bank of Canada from C$28.00 to C$30.00 and gave the company a "market perform" rating in a research report on Tuesday, September 2nd. Jefferies Financial Group increased their target price on Laurentian Bank of Canada from C$29.00 to C$31.00 in a research report on Wednesday, August 13th. Finally, CIBC increased their target price on Laurentian Bank of Canada from C$33.00 to C$35.00 and gave the company a "neutral" rating in a research report on Wednesday, August 20th. Four analysts have rated the stock with a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat.com, Laurentian Bank of Canada currently has a consensus rating of "Reduce" and a consensus target price of C$30.71.

Laurentian Bank of Canada Price Performance

Shares of LB stock traded down C$0.20 on Friday, hitting C$32.21. 65,724 shares of the company's stock were exchanged, compared to its average volume of 203,732. Laurentian Bank of Canada has a 12 month low of C$24.37 and a 12 month high of C$34.10. The stock has a market cap of C$1.43 billion, a P/E ratio of 10.56, a price-to-earnings-growth ratio of 0.76 and a beta of 1.43. The company has a 50 day moving average of C$31.78 and a 200 day moving average of C$29.82.

Laurentian Bank of Canada (TSE:LB - Get Free Report) last announced its quarterly earnings data on Friday, August 29th. The company reported C$0.73 earnings per share for the quarter, topping the consensus estimate of C$0.72 by C$0.01. Laurentian Bank of Canada had a negative return on equity of 0.20% and a negative net margin of 0.30%.During the same quarter in the prior year, the company posted $0.88 earnings per share. Sell-side analysts predict that Laurentian Bank of Canada will post 3.8414986 EPS 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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