01:50 PM EST, 02/28/2025 (MT Newswires) -- Laurentian Bank (LB.TO) has kept an Underperform rating, C$27 Target at National Bank in National's updated Q1 2025 earnings commentary.

LB reported Q1 2025 adjusted EPS of $0.78 versus a National Bank Financial forecast of $0.76 and consensus of $0.76.

Among key takeaways, National said LB reported a "good" Q1 2025, highlighted by a "favourable" loan growth mix that delivered stronger than expected margin performance. National does expect some margin reversion during Q2 2025 as some NIM factors were timing-related (i.e., not sustainable). It said expense growth is also expected to increase during Q2 2025, as the bank steps up investment initiatives. Finally, National is also increasing its PCL forecast next quarter, despite Q1 2025's in-line performance, to reflect a more conservative performing provision forecast. "We have applied this conservatism across the banking group this quarter in relation to economic uncertainty related to tariff potential," National added.

LB was at last look down 3.5% at $26.78.

Price: 26.76, Change: -0.99, Percent Change: -3.57