CIBC Forecasts Strong Price Appreciation for Laurentian Bank of Canada (TSE:LB) Stock

Laurentian Bank of Canada (TSE:LB) had its target price boosted by stock analysts at CIBC from C$28.00 to C$31.00 in a report issued on Tuesday,BayStreet.CA reports. CIBC’s price target suggests a potential upside of 5.48% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the company. Scotiabank boosted their price objective on Laurentian Bank of Canada from C$26.00 to C$30.00 in a report on Monday. Cibc World Mkts upgraded Laurentian Bank of Canada to a “hold” rating in a research note on Wednesday, August 21st. Desjardins increased their price objective on Laurentian Bank of Canada from C$25.00 to C$26.00 and gave the stock a “sell” rating in a research report on Tuesday, August 6th. Raymond James lifted their target price on Laurentian Bank of Canada from C$26.00 to C$27.00 in a report on Wednesday, September 4th. Finally, BMO Capital Markets upped their price target on shares of Laurentian Bank of Canada from C$27.00 to C$28.00 in a research note on Monday, November 18th. Three equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of C$27.10.

Laurentian Bank of Canada Trading Up 0.3 %

LB opened at C$29.39 on Tuesday. The stock’s fifty day simple moving average is C$27.13 and its 200 day simple moving average is C$26.61. Laurentian Bank of Canada has a 1-year low of C$24.45 and a 1-year high of C$29.55. The stock has a market cap of C$1.29 billion, a PE ratio of -47.15, a price-to-earnings-growth ratio of 0.76 and a beta of 1.25.

Laurentian Bank of Canada (TSE:LB) last issued its quarterly earnings data on Friday, August 30th. The company reported C$0.88 earnings per share for the quarter, beating the consensus estimate of C$0.85 by C$0.03. The company had revenue of C$256.50 million for the quarter, compared to analyst estimates of C$257.90 million. Laurentian Bank of Canada had a negative net margin of 1.64% and a negative return on equity of 0.55%. Equities analysts forecast that Laurentian Bank of Canada will post 3.8414986 earnings per share for the current year.

Laurentian Bank of Canada Company Profile

Laurentian Bank of Canada, together with its subsidiaries, provides various financial services to personal, business, and institutional customers in Canada and the United States. It operates through three segments: Personal Banking, Commercial Banking, and Capital Markets. The Personal Banking segment offers financial services, such as financial advisory services to financial intermediaries; and operates digital direct-to-customer platform to retail clients.