Company News

BUZZ-Laurentian Bank of Canada: Falls after Q1 results miss estimate

** Shares of Canadian bank down 8.2 pct at C$42.18

** Co posts Q1 adj. EPS of C$0.98, missing avg. analyst estimate of C$1.29 - according to IBES data from Refintiv

** Q1 rev of C$242.3 mln also fell short of estimate of C$259.8 mln

** Qtrly performance was impacted by lower capital market rev, management remains committed to achieve mid-term targets - company statement

** Separately, brokerage CIBC Capital Markets says lending fees saw the largest sequential decline; fixed expenses, salaries, professional and advisory came in higher than expected

** Expects shares to return some of the strong year-to-date performance they have delivered - CIBC

** Despite Wednesday’s fall, the stock is up nearly 12 pct so far this year (Reporting By Arundhati Sarkar in Bengaluru)