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Laurentian Bank (LRCDF) Receives a Sell from CIBC


According to The Fly, in a report released yesterday, Robert Sedran from CIBC reiterated a Sell rating on Laurentian Bank (LRCDF). The company’s shares opened today at $29.72, close to its 52-week low of $27.88.

Sedran has an average return of 11.7% when recommending Laurentian Bank.

According to TipRanks.com, Sedran is ranked #1335 out of 5121 analysts.

The the analyst consensus on Laurentian Bank is currently a Hold rating.

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Based on Laurentian Bank’s latest earnings release for the quarter ending October 31, the company reported a quarterly net profit of $39 million. In comparison, last year the company had a net profit of $46.9 million.

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Laurentian Bank of Canada engages in the provision of financial services. It operates through the following segments: Retail Services, Business Services, Business-to-Business (B2B) Bank, and Capital Markets. The Retail Services segment offers savings, investment, and financing products.