Latest news with #LRCDF
Business Insider
3 days ago
- Business
- Business Insider
RBC Capital Reaffirms Their Sell Rating on Laurentian Bank (LRCDF)
In a report released yesterday, Darko Mihelic from RBC Capital maintained a Sell rating on Laurentian Bank (LRCDF – Research Report), with a price target of C$25.00. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter According to TipRanks, Mihelic is a 5-star analyst with an average return of 7.2% and a 60.22% success rate. Mihelic covers the Financial sector, focusing on stocks such as Great-West Lifeco, Sagicor Financial, and Bank Of Montreal. In addition to RBC Capital, Laurentian Bank also received a Sell from National Bank's Gabriel Dechaine in a report issued on May 16. However, yesterday, Jefferies maintained a Hold rating on Laurentian Bank (Other OTC: LRCDF). The company has a one-year high of $22.57 and a one-year low of $16.46. Currently, Laurentian Bank has an average volume of 8,937.
Business Insider
3 days ago
- Business
- Business Insider
Laurentian Bank (LRCDF) Receives a Hold from Jefferies
Jefferies analyst John Aiken maintained a Hold rating on Laurentian Bank (LRCDF – Research Report) yesterday and set a price target of C$29.00. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter According to TipRanks, Aiken is a 2-star analyst with an average return of 0.0% and a 51.19% success rate. Aiken covers the Financial sector, focusing on stocks such as Royal Bank Of Canada, Canadian Bank of Commerce, and Great-West Lifeco. In addition to Jefferies, Laurentian Bank also received a Hold from Scotiabank's Meny Grauman in a report issued yesterday. However, on May 20, RBC Capital maintained a Sell rating on Laurentian Bank (Other OTC: LRCDF). The company has a one-year high of $22.57 and a one-year low of $16.46. Currently, Laurentian Bank has an average volume of 8,937.
Yahoo
4 days ago
- Business
- Yahoo
Laurentian Bank of Canada (LRCDF) Q2 2025 Earnings Call Highlights: Navigating Challenges with ...
Total Revenue: $242.5 million, down 4% year-over-year and 3% quarter-to-quarter. Net Income (Reported): $32.3 million. Diluted EPS (Reported): $0.69. Net Income (Adjusted): $34 million, down 16% year-over-year and 14% quarter-to-quarter. Diluted EPS (Adjusted): $0.73, decreased by 19% year-over-year and 6% quarter-to-quarter. Efficiency Ratio (Adjusted): 75.2%, increased by 140 basis points year-over-year and 90 basis points sequentially. Net Interest Margin: Stable at 1.85% quarter-over-quarter, up 5 basis points year-over-year. Net Interest Income: Up by $2.6 million or 1% year-over-year; down by $4 million or 2% sequentially. Other Income: $60.3 million, down 17% year-over-year and 4% sequentially. Non-Interest Expenses: $182.3 million, down 2% year-over-year and 1% sequentially. CET1 Ratio: Increased by 10 basis points to 11% sequentially. Commercial Loan Growth: Increased by about $300 million year-over-year and sequentially. Inventory Financing Utilization Rate: 46%, below historical averages. Residential Mortgage Loans: Down 4% year-over-year and 1% sequentially. Allowances for Credit Losses: $204.3 million, down $2.6 million compared to last quarter. Provisions for Credit Losses: $16.7 million, decreased by $1.2 million year-over-year; up $1.5 million sequentially. Gross Impaired Loans: Increased by $104.6 million year-over-year; relatively stable sequentially. Warning! GuruFocus has detected 3 Warning Signs with LRCDF. Release Date: May 30, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Laurentian Bank of Canada (LRCDF) has made significant progress in executing its strategic plan, focusing on technology investments to improve efficiency and customer experience. The bank's commercial loan portfolio grew by 1% compared to the previous quarter, with commercial assets now comprising 49% of the total portfolio. The bank maintained a stable net interest margin of 1.85% quarter over quarter, indicating consistent financial performance. Laurentian Bank of Canada (LRCDF) reported a strong commercial banking net promoter score, reflecting high customer satisfaction. The bank's CET1 ratio increased by 10 basis points to 11% sequentially, indicating a solid capital position and readiness for future growth opportunities. Total revenue for the quarter was $242.5 million, down 4% compared to last year and 3% quarter to quarter. Net income decreased by 16% compared to last year and 14% compared to the previous quarter, reflecting financial challenges. The bank's efficiency ratio increased by 140 basis points compared to last year, driven by elevated expenses related to technology investments. Other income decreased by 17% year over year, primarily due to lower fees and securities brokerage commissions. The provisions for credit losses increased sequentially, reflecting higher provisions on performing loans amid uncertain macroeconomic conditions. Q: Is there anything unusual in this quarter's results that we should be aware of? A: Eric Provost, President and CEO, stated that there were no unusual elements in the quarter. The focus remains on specialized sectors, particularly commercial, with a strong unfunded pipeline in commercial real estate and good performance in inventory finance. Q: Can you provide details on the growth and diversification of the inventory finance sector? A: Eric Provost explained that the bank has added about 100 new dealers this quarter, growing the dealer base by 6% year over year. The growth is primarily in new sectors like agriculture, construction, and IT, which positions the bank well for future growth. Q: What is the outlook for the bank's capital levels and potential deployment? A: Yvan Deschamps, CFO, mentioned that the bank's capital ratio is at 11%, with plans to manage above 10%. The bank expects to deploy capital in inventory financing and commercial real estate as these sectors normalize and grow. Q: How is the bank progressing with its technology investments and efficiency improvements? A: Eric Provost noted that significant progress has been made in technology investments aimed at improving efficiency. The bank expects to see momentum in efficiency ratios starting in 2026, with a focus on simplifying technology infrastructure and processes. Q: What is the current status of the bank's digital offerings and funding strategy? A: Eric Provost stated that while there is no immediate plan for a major digital product launch, the bank is focused on foundational investments and exploring partnerships to enhance digital offerings. The goal is to improve customer experience and differentiate in the market. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
4 days ago
- Business
- Yahoo
Laurentian Bank of Canada (LRCDF) Q2 2025 Earnings Call Highlights: Navigating Challenges with ...
Total Revenue: $242.5 million, down 4% year-over-year and 3% quarter-to-quarter. Net Income (Reported): $32.3 million. Diluted EPS (Reported): $0.69. Net Income (Adjusted): $34 million, down 16% year-over-year and 14% quarter-to-quarter. Diluted EPS (Adjusted): $0.73, decreased by 19% year-over-year and 6% quarter-to-quarter. Efficiency Ratio (Adjusted): 75.2%, increased by 140 basis points year-over-year and 90 basis points sequentially. Net Interest Margin: Stable at 1.85% quarter-over-quarter, up 5 basis points year-over-year. Net Interest Income: Up by $2.6 million or 1% year-over-year; down by $4 million or 2% sequentially. Other Income: $60.3 million, down 17% year-over-year and 4% sequentially. Non-Interest Expenses: $182.3 million, down 2% year-over-year and 1% sequentially. CET1 Ratio: Increased by 10 basis points to 11% sequentially. Commercial Loan Growth: Increased by about $300 million year-over-year and sequentially. Inventory Financing Utilization Rate: 46%, below historical averages. Residential Mortgage Loans: Down 4% year-over-year and 1% sequentially. Allowances for Credit Losses: $204.3 million, down $2.6 million compared to last quarter. Provisions for Credit Losses: $16.7 million, decreased by $1.2 million year-over-year; up $1.5 million sequentially. Gross Impaired Loans: Increased by $104.6 million year-over-year; relatively stable sequentially. Warning! GuruFocus has detected 3 Warning Signs with LRCDF. Release Date: May 30, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Laurentian Bank of Canada (LRCDF) has made significant progress in executing its strategic plan, focusing on technology investments to improve efficiency and customer experience. The bank's commercial loan portfolio grew by 1% compared to the previous quarter, with commercial assets now comprising 49% of the total portfolio. The bank maintained a stable net interest margin of 1.85% quarter over quarter, indicating consistent financial performance. Laurentian Bank of Canada (LRCDF) reported a strong commercial banking net promoter score, reflecting high customer satisfaction. The bank's CET1 ratio increased by 10 basis points to 11% sequentially, indicating a solid capital position and readiness for future growth opportunities. Total revenue for the quarter was $242.5 million, down 4% compared to last year and 3% quarter to quarter. Net income decreased by 16% compared to last year and 14% compared to the previous quarter, reflecting financial challenges. The bank's efficiency ratio increased by 140 basis points compared to last year, driven by elevated expenses related to technology investments. Other income decreased by 17% year over year, primarily due to lower fees and securities brokerage commissions. The provisions for credit losses increased sequentially, reflecting higher provisions on performing loans amid uncertain macroeconomic conditions. Q: Is there anything unusual in this quarter's results that we should be aware of? A: Eric Provost, President and CEO, stated that there were no unusual elements in the quarter. The focus remains on specialized sectors, particularly commercial, with a strong unfunded pipeline in commercial real estate and good performance in inventory finance. Q: Can you provide details on the growth and diversification of the inventory finance sector? A: Eric Provost explained that the bank has added about 100 new dealers this quarter, growing the dealer base by 6% year over year. The growth is primarily in new sectors like agriculture, construction, and IT, which positions the bank well for future growth. Q: What is the outlook for the bank's capital levels and potential deployment? A: Yvan Deschamps, CFO, mentioned that the bank's capital ratio is at 11%, with plans to manage above 10%. The bank expects to deploy capital in inventory financing and commercial real estate as these sectors normalize and grow. Q: How is the bank progressing with its technology investments and efficiency improvements? A: Eric Provost noted that significant progress has been made in technology investments aimed at improving efficiency. The bank expects to see momentum in efficiency ratios starting in 2026, with a focus on simplifying technology infrastructure and processes. Q: What is the current status of the bank's digital offerings and funding strategy? A: Eric Provost stated that while there is no immediate plan for a major digital product launch, the bank is focused on foundational investments and exploring partnerships to enhance digital offerings. The goal is to improve customer experience and differentiate in the market. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
