Laurentian Bank of Canada (LB) Given New C$46.00 Price Target at Barclays
Laurentian Bank of Canada (TSE:LB) had its price objective lowered by equities research analysts at Barclays from C$48.00 to C$46.00 in a report released on Thursday. Barclays’ price objective would indicate a potential upside of 22.24% from the stock’s previous close.
Other research analysts have also recently issued reports about the stock. CIBC cut their price target on shares of Laurentian Bank of Canada from C$47.00 to C$43.00 in a report on Thursday. Desjardins cut their price target on shares of Laurentian Bank of Canada from C$45.00 to C$44.00 in a report on Thursday. Royal Bank of Canada cut their price target on shares of Laurentian Bank of Canada from C$56.00 to C$51.00 and set a “sector perform” rating on the stock in a report on Thursday. BMO Capital Markets cut their price target on shares of Laurentian Bank of Canada from C$50.00 to C$45.00 and set a “market perform” rating on the stock in a report on Thursday. Finally, TD Securities cut their price target on shares of Laurentian Bank of Canada from C$52.00 to C$51.00 and set a “buy” rating on the stock in a report on Thursday. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of C$46.64.
Laurentian Bank of Canada stock traded down C$2.19 during midday trading on Thursday, hitting C$37.63. 1,104,067 shares of the stock were exchanged, compared to its average volume of 288,115. Laurentian Bank of Canada has a 52-week low of C$37.05 and a 52-week high of C$58.08.
In related news, insider William James Alexander Mason acquired 2,000 shares of the stock in a transaction on Friday, September 7th. The shares were acquired at an average price of C$42.50 per share, with a total value of C$85,000.00.
About Laurentian Bank of Canada
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 and leasing solutions.
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