Laurentian Bank of Canada (TSE:LB) Cut to “Underperform” at Raymond James Financial

Laurentian Bank of Canada (TSE:LB) was downgraded by analysts at Raymond James Financial from a “market perform” rating to an “underperform” rating in a research note issued on Monday,BayStreet.CA reports.

Several other equities analysts have also commented on the stock. Jefferies Financial Group upped their price objective on shares of Laurentian Bank of Canada from C$29.00 to C$31.00 in a report on Wednesday, August 13th. CIBC increased their target price on Laurentian Bank of Canada from C$33.00 to C$35.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 20th. Royal Bank Of Canada raised Laurentian Bank of Canada from an “underperform” rating to a “sector perform” rating and lifted their target price for the company from C$25.00 to C$40.00 in a research report on Monday. Scotiabank set a C$33.00 price target on shares of Laurentian Bank of Canada and gave the stock a “sector perform” rating in a research note on Tuesday, November 25th. Finally, National Bankshares lowered their price objective on shares of Laurentian Bank of Canada from C$27.00 to C$26.00 and set an “underperform” rating for the company in a research note on Tuesday, September 2nd. Three investment analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Strong Sell” and a consensus target price of C$35.19.

Laurentian Bank of Canada Stock Performance

Shares of TSE LB traded down C$0.03 during mid-day trading on Monday, reaching C$39.83. 251,465 shares of the company’s stock were exchanged, compared to its average volume of 226,451. The company’s 50-day moving average is C$33.37 and its 200-day moving average is C$31.79. The firm has a market capitalization of C$1.76 billion, a price-to-earnings ratio of 13.06, a PEG ratio of 0.76 and a beta of 1.44. Laurentian Bank of Canada has a 52-week low of C$24.37 and a 52-week high of C$40.01.

Laurentian Bank of Canada (TSE:LB) last issued its quarterly earnings data on Friday, December 5th. The company reported C$0.73 earnings per share (EPS) for the quarter. Laurentian Bank of Canada had a negative net margin of 0.30% and a negative return on equity of 0.20%. The firm had revenue of C$244.71 million for the quarter. As a group, equities analysts predict that Laurentian Bank of Canada will post 3.8414986 earnings per share for the current fiscal year.

Laurentian Bank of Canada Company Profile

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.