Laurentian Bank of Canada (TSE:LB) Given Average Recommendation of “Hold” by Brokerages

Shares of Laurentian Bank of Canada (TSE:LB) have been given an average recommendation of “Hold” by the nine ratings firms that are currently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is C$43.22.

Several equities research analysts have weighed in on LB shares. National Bank Financial cut their target price on shares of Laurentian Bank of Canada from C$40.00 to C$38.00 and set an “underperform” rating on the stock in a report on Thursday. CIBC raised shares of Laurentian Bank of Canada from an “underperform” rating to a “neutral” rating and boosted their price target for the company from C$43.00 to C$49.00 in a report on Tuesday, August 13th. Scotiabank lowered their price objective on shares of Laurentian Bank of Canada from C$42.00 to C$41.00 in a research report on Thursday. Canaccord Genuity lowered their price objective on shares of Laurentian Bank of Canada from C$36.00 to C$35.00 in a research report on Thursday. Finally, Barclays reaffirmed an “equal weight” rating and set a C$46.00 price objective on shares of Laurentian Bank of Canada in a research note on Friday, August 30th.

TSE:LB traded up C$0.05 during trading hours on Tuesday, hitting C$43.68. The stock had a trading volume of 292,186 shares, compared to its average volume of 241,134. Laurentian Bank of Canada has a one year low of C$36.21 and a one year high of C$46.99. The company has a market cap of $1.94 billion and a price-to-earnings ratio of 10.90. The business’s 50 day moving average is C$45.92 and its 200-day moving average is C$44.91.

Laurentian Bank of Canada Company Profile

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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