Laurentian Bank of Canada (TSE:LB) Hits New 52-Week High – Time to Buy?

Laurentian Bank of Canada (TSE:LB)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as C$40.39 and last traded at C$40.38, with a volume of 94382 shares. The stock had previously closed at C$40.29.

Analysts Set New Price Targets

Several equities research analysts recently commented on LB shares. Desjardins dropped their price objective on Laurentian Bank of Canada from C$50.00 to C$40.00 and set a “tender” rating on the stock in a research report on Monday, February 9th. Scotiabank set a C$33.00 price target on shares of Laurentian Bank of Canada and gave the company a “sector perform” rating in a report on Tuesday, November 25th. BMO Capital Markets lifted their price target on shares of 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 shares of Laurentian Bank of Canada from a “strong sell” rating to a “hold” rating and boosted their price objective for the company from C$25.00 to C$40.00 in a report on Monday, December 8th. Finally, Raymond James Financial cut shares of Laurentian Bank of Canada from a “market perform” rating to an “underperform” rating in a report on Monday, December 8th. Two equities research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, Laurentian Bank of Canada has an average rating of “Strong Sell” and a consensus target price of C$36.44.

Laurentian Bank of Canada Trading Up 0.2%

The stock has a 50 day moving average of C$40.07 and a 200-day moving average of C$36.01. The company has a market capitalization of C$1.80 billion, a P/E ratio of 14.20, a P/E/G ratio of 0.76 and a beta of 1.49.

Laurentian Bank of Canada (TSE:LB) last issued its quarterly earnings results on Friday, December 5th. The company reported C$0.73 earnings per share for the quarter. The business had revenue of C$244.71 million for the quarter. Laurentian Bank of Canada had a net margin of 3.72% and a return on equity of 2.86%. As a group, sell-side analysts expect that Laurentian Bank of Canada will post 3.8414986 EPS for the current fiscal year.

Laurentian Bank of Canada Company Profile

Founded in Montreal in 1846, Laurentian Bank is committed to serving its customers and fostering deep relationships with specialized groups. Laurentian Bank runs operations across Canada – primarily in Québec and Ontario – as well as in the United States and competes where it sees market opportunity and has an edge, while harnessing the power of partnerships and collaboration.