Laurentian Bank of Canada (LB) Receives a Hold from Desjardins
Laurentian Bank of Canada (LB), the Financial sector company, was revisited by a Wall Street analyst today. The company received a Hold rating from Desjardins’ analyst Douglas Young, with a C$44 price target.
According to TipRanks.com, Young is a 4-star analyst with an average return of 3.8% and a 54.3% success rate. Young covers the Financial sector, focusing on stocks such as Canadian Bank of Commerce, Manulife Financial Corp, and National Bank of Canada.
The word on The Street in general, suggests a Hold analyst consensus rating for Laurentian Bank of Canada with a C$44.56 average price target, representing a 18.3% upside. In a report issued on November 22, Canaccord Genuity also maintained a Hold rating on the stock with a C$40 price target.
Based on Laurentian Bank of Canada’s latest earnings release for the quarter ending October 31, the company reported a quarterly net profit of C$50.8 million. In comparison, last year the company had a net profit of C$58.64 million.
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.
The company’s shares closed on Thursday at C$37.68.