Laurentian Bank of Canada (LB) Price Target Lowered to C$34.00 at Canaccord Genuity

Laurentian Bank of Canada (TSE:LB) had its price objective cut by equities research analysts at Canaccord Genuity from C$35.00 to C$34.00 in a research note issued on Wednesday, BayStreet.CA reports. Canaccord Genuity’s price objective suggests a potential downside of 19.60% from the stock’s current price.

Several other research analysts also recently commented on the stock. Royal Bank of Canada decreased their target price on shares of Laurentian Bank of Canada from C$51.00 to C$48.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 28th. Desjardins decreased their target price on shares of Laurentian Bank of Canada from C$43.00 to C$42.00 and set a “hold” rating on the stock in a research note on Thursday, February 28th. CIBC decreased their target price on shares of Laurentian Bank of Canada from C$43.00 to C$41.00 in a research note on Thursday, February 28th. National Bank Financial downgraded shares of Laurentian Bank of Canada from a “sector perform” rating to an “underperform” rating and decreased their target price for the stock from C$41.00 to C$36.00 in a research note on Thursday, February 28th. Finally, TD Securities downgraded shares of Laurentian Bank of Canada from a “buy” rating to a “hold” rating and reduced their price objective for the company from C$51.00 to C$47.00 in a research report on Thursday, February 28th. Two analysts have rated the stock with a sell rating and six have issued a hold rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of C$43.60.

Shares of TSE LB traded down C$0.12 during mid-day trading on Wednesday, hitting C$42.29. The stock had a trading volume of 125,776 shares, compared to its average volume of 316,056. Laurentian Bank of Canada has a 1 year low of C$36.21 and a 1 year high of C$49.74. The company has a market cap of $1.77 billion and a price-to-earnings ratio of 9.23.

Laurentian Bank of Canada (TSE:LB) last issued its earnings results on Wednesday, February 27th. The company reported C$0.98 EPS for the quarter, missing the consensus estimate of C$1.29 by C($0.31). The company had revenue of C$242.34 million for the quarter, compared to the consensus estimate of C$259.30 million. As a group, equities analysts predict that Laurentian Bank of Canada will post 4.91999982830465 EPS for the current year.

About Laurentian Bank of Canada

Laurentian Bank of Canada, together with its subsidiaries, provides banking services to individuals, small and medium-sized enterprises, and independent advisors in Canada and the United States. It operates through four segments: Retail Services, Business Services, B2B Bank, and Capital Markets. The company offers transactional products and current accounts, term deposits, and investment accounts; personal line of credit, personal loans, student loans, and registered retirement savings plans; financing for agriculture, real estate, and commercial industries, as well as small and medium-sized enterprises; mortgage solutions, such as variable-rate mortgage, fixed-rate mortgage, equity line of credit, mortgage insurance, and retirement line of credit; and credit and business cards, as well as equipment finance solutions.

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Analyst Recommendations for Laurentian Bank of Canada (TSE:LB)

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