Desjardins Cuts Laurentian Bank of Canada (TSE:LB) Price Target to C$40.00

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

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

Laurentian Bank of Canada Stock Up 0.1%

Shares of Laurentian Bank of Canada stock opened at C$40.13 on Monday. Laurentian Bank of Canada has a 12 month low of C$24.37 and a 12 month high of C$40.42. The stock has a market cap of C$1.79 billion, a PE ratio of 14.13, a price-to-earnings-growth ratio of 0.76 and a beta of 1.49. The business has a fifty day simple moving average of C$40.02 and a 200-day simple moving average of C$35.02.

Laurentian Bank of Canada (TSE:LB) last posted its quarterly earnings results on Friday, December 5th. The company reported C$0.73 earnings per share for the quarter. Laurentian Bank of Canada had a negative return on equity of 0.20% and a negative net margin of 0.30%.The firm had revenue of C$244.71 million for the quarter. Analysts expect 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. The business services segment provides financial services, commercial banking, real estate financing, and equipment and inventory financing to business clients.