Laurentian Bank of Canada (TSE:LB) shares reached a new 52-week low during mid-day trading on Monday . The stock traded as low as C$47.42 and last traded at C$47.45, with a volume of 253572 shares. The stock had previously closed at C$48.31.
Several analysts have recently weighed in on LB shares. CIBC reduced their target price on Laurentian Bank of Canada from C$66.00 to C$60.00 in a report on Monday, December 11th. CSFB reduced their target price on Laurentian Bank of Canada from C$57.00 to C$55.00 in a report on Tuesday, January 9th. Barclays raised Laurentian Bank of Canada from an “equal weight” rating to an “outperform” rating in a report on Tuesday, December 19th. Canaccord Genuity downgraded Laurentian Bank of Canada from a “buy” rating to a “speculative buy” rating and reduced their target price for the company from C$67.00 to C$61.00 in a report on Wednesday, December 6th. Finally, Scotiabank reduced their target price on Laurentian Bank of Canada from C$67.00 to C$64.00 and set a “sector perform” rating for the company in a report on Wednesday, December 6th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Laurentian Bank of Canada presently has an average rating of “Hold” and an average price target of C$56.40.
The company has a market capitalization of $2,050.00, a P/E ratio of 8.66 and a beta of 0.45.
In other news, Director Sonia Baxendale purchased 1,500 shares of the stock in a transaction that occurred on Monday, March 5th. The shares were acquired at an average price of C$48.50 per share, for a total transaction of C$72,750.00.
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Laurentian Bank of Canada Company Profile
Laurentian Bank of Canada is a Canada-based Chartered bank. The Bank and its subsidiaries provide banking services to individuals, and small and medium-sized enterprises, as well as to independent advisors across Canada. It also operates as a full-service brokerage firm. The Bank’s loan portfolio consists of personal loans, residential mortgage loans, commercial mortgage loans and commercial loans, including acceptances and finance lease receivables.
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