Laurentian Bank of Canada (TSE:LB) Reaches New 12-Month High – Should You Buy?

Shares of Laurentian Bank of Canada (TSE:LB) hit a new 52-week high on Monday . The company traded as high as C$40.34 and last traded at C$40.30, with a volume of 22027 shares trading hands. The stock had previously closed at C$40.25.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on LB shares. National Bankshares reduced their target price on shares of Laurentian Bank of Canada from C$27.00 to C$26.00 and set an “underperform” rating on the stock in a report on Tuesday, September 2nd. BMO Capital Markets increased their price objective on Laurentian Bank of Canada from C$31.00 to C$40.50 in a research note on Monday, December 8th. Royal Bank Of Canada raised Laurentian Bank of Canada from a “strong sell” rating to a “hold” rating and boosted their target price for the stock from C$25.00 to C$40.00 in a research note on Monday, December 8th. Scotiabank set a C$33.00 price target on Laurentian Bank of Canada and gave the stock a “sector perform” rating in a report on Tuesday, November 25th. Finally, CIBC cut Laurentian Bank of Canada from a “neutral” rating to a “tender” rating and lifted their price objective for the company from C$35.00 to C$40.50 in a research note on Monday, December 8th. Two investment analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Strong Sell” and a consensus price target of C$35.19.

Laurentian Bank of Canada Stock Up 0.0%

The stock has a market cap of C$1.79 billion, a PE ratio of 14.17, a price-to-earnings-growth ratio of 0.76 and a beta of 1.44. The firm has a fifty day moving average of C$35.97 and a 200 day moving average of C$33.06.

Laurentian Bank of Canada (TSE:LB) last announced its quarterly earnings results on Friday, December 5th. The company reported C$0.73 earnings per share (EPS) 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 company had revenue of C$244.71 million during the quarter. On average, equities research analysts forecast 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.