06:49:42 EDT Sat 11 May 2024
Enter Symbol
or Name
USA
CA



Laurentian Bank of Canada
Symbol LB
Shares Issued 43,496,411
Close 2023-08-14 C$ 40.41
Market Cap C$ 1,757,689,969
Recent Sedar Documents

Globe says Laurentian failing to inspire the Street

2023-08-15 08:29 ET - In the News

The Globe and Mail reports in its Tuesday edition that Laurentian chief executive officer Rania Llewellyn is looking for a buyer willing to pay a premium price for the country's ninth-largest lender. The Globe's Andrew Willis writes that as Laurentian prepares to release third quarter financial results on Aug. 31, and potentially update investors on the review, analysts say without a deal, the bank's growth prospects are dim. Ms. Llewellyn is almost two years into a three-year turnaround plan that has Laurentian focused on a handful of niche commercial banking markets -- real estate lending, small- to medium-sized business loans, equipment and inventory financing. The strategy has failed to inspire the Street, and contributed to Laurentian's decision to launch the review. Barclays analyst John Aiken said, "We wonder if the efforts to explore potential growth options implies that, to a certain degree, management may not believe that the current strategy will be able to deliver the results that could propel Laurentian's valuation." In a preview of Laurentian's results, RBC analyst Darko Mihelic forecast that over the next two years, the bank's earnings per share will grow by an anemic 4 per cent annually.

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