Brokerages Set Laurentian Bank of Canada (LB) PT at $56.40

Laurentian Bank of Canada (TSE:LB) has been assigned a consensus recommendation of “Hold” from the ten brokerages that are currently covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is C$56.40.

LB has been the subject of a number of research reports. National Bank Financial restated a “sector perform market weight” rating on shares of Laurentian Bank of Canada in a report on Tuesday, January 16th. BMO Capital Markets restated an “outperform” rating and set a C$60.00 target price on shares of Laurentian Bank of Canada in a report on Thursday, March 1st. TD Securities reduced their target price on shares of Laurentian Bank of Canada from C$64.00 to C$58.00 and set a “buy” rating for the company in a report on Thursday, March 1st. Barclays reduced their target price on shares of Laurentian Bank of Canada from C$59.00 to C$57.00 in a report on Friday, February 16th. Finally, CIBC reduced their target price on shares of Laurentian Bank of Canada from C$60.00 to C$55.00 in a report on Thursday, March 1st.

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In other news, Director Sonia Baxendale purchased 1,500 shares of Laurentian Bank of Canada stock in a transaction that occurred on Monday, March 5th. The stock was acquired at an average price of C$48.50 per share, for a total transaction of C$72,750.00.

Shares of LB stock traded up C$0.27 during trading hours on Friday, reaching C$49.54. 99,718 shares of the company were exchanged, compared to its average volume of 316,802. The company has a market capitalization of $2,050.00, a PE ratio of 9.00 and a beta of 0.45. Laurentian Bank of Canada has a 1 year low of C$48.09 and a 1 year high of C$62.90.

Laurentian Bank of Canada (TSE:LB) last issued its earnings results on Wednesday, February 28th. The company reported C$1.49 earnings per share for the quarter, missing the Zacks’ consensus estimate of C$1.52 by C($0.03). The business had revenue of C$267.00 million for the quarter, compared to the consensus estimate of C$265.70 million. Laurentian Bank of Canada had a return on equity of 11.79% and a net margin of 21.88%.

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Laurentian Bank of Canada Company Profile

Laurentian Bank of Canada is a Canada-based Chartered bank. The Bank and its subsidiaries provide banking services to individuals, and small and medium-sized enterprises, as well as to independent advisors across Canada. It also operates as a full-service brokerage firm. The Bank’s loan portfolio consists of personal loans, residential mortgage loans, commercial mortgage loans and commercial loans, including acceptances and finance lease receivables.

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

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