Laurentian Bank of Canada (TSE:LB) Receives Average Recommendation of “Reduce” from Analysts

Laurentian Bank of Canada (TSE:LB) has been assigned a consensus rating of “Reduce” from the fourteen ratings firms that are presently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a sell recommendation, ten have given a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is C$28.31.

LB has been the subject of several recent analyst reports. CIBC decreased their target price on Laurentian Bank of Canada from C$33.00 to C$30.00 and set a “neutral” rating for the company in a research note on Monday, June 3rd. Raymond James dropped their target price on shares of Laurentian Bank of Canada from C$27.00 to C$26.00 and set a “market perform” rating on the stock in a research report on Tuesday, June 4th. Royal Bank of Canada reduced their price target on shares of Laurentian Bank of Canada from C$26.00 to C$25.00 and set an “underperform” rating for the company in a research report on Monday, June 3rd. National Bankshares cut their target price on Laurentian Bank of Canada from C$27.00 to C$26.00 and set an “underperform” rating on the stock in a research report on Monday, June 3rd. Finally, Jefferies Financial Group cut their price target on Laurentian Bank of Canada from C$28.00 to C$26.00 and set a “hold” rating on the stock in a research report on Thursday, June 6th.

Laurentian Bank of Canada Stock Performance

Shares of Laurentian Bank of Canada stock opened at C$26.55 on Friday. The firm has a market capitalization of C$1.16 billion, a price-to-earnings ratio of 7.48, a PEG ratio of 0.76 and a beta of 1.28. The stock has a 50 day moving average of C$26.27 and a 200 day moving average of C$26.74. Laurentian Bank of Canada has a fifty-two week low of C$24.45 and a fifty-two week high of C$48.23.

Laurentian Bank of Canada (TSE:LB) last released its earnings results on Friday, May 31st. The company reported C$0.90 earnings per share for the quarter, beating the consensus estimate of C$0.84 by C$0.06. Laurentian Bank of Canada had a return on equity of 5.84% and a net margin of 17.33%. The company had revenue of C$252.59 million during the quarter, compared to the consensus estimate of C$253.47 million. Analysts forecast that Laurentian Bank of Canada will post 3.7793103 EPS for the current year.

Laurentian Bank of Canada Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Thursday, August 1st will be paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 7.08%. The ex-dividend date of this dividend is Tuesday, July 2nd. Laurentian Bank of Canada’s payout ratio is 52.96%.

Laurentian Bank of Canada Company Profile

Laurentian Bank of Canada, together with its subsidiaries, provides various financial services to personal, business, and institutional customers in Canada and the United States. It operates through three segments: Personal Banking, Commercial Banking, and Capital Markets. The Personal Banking segment offers financial services, such as financial advisory services to financial intermediaries; and operates digital direct-to-customer platform to retail clients.