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

Shares of Laurentian Bank of Canada (TSE:LB) have been assigned a consensus recommendation of “Reduce” from the eleven analysts that are covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell rating and eight have issued a hold rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is C$27.01.

A number of research firms have issued reports on LB. CIBC decreased their target price on Laurentian Bank of Canada from C$30.00 to C$28.00 and set a “neutral” rating for the company in a research note on Tuesday, August 20th. Desjardins increased their target price on Laurentian Bank of Canada from C$25.00 to C$26.00 and gave the stock a “sell” rating in a research note on Tuesday, August 6th. Raymond James lifted their price target on shares of Laurentian Bank of Canada from C$26.00 to C$27.00 in a research note on Wednesday, September 4th. Finally, Cibc World Mkts raised shares of Laurentian Bank of Canada to a “hold” rating in a research report on Wednesday, August 21st.

Laurentian Bank of Canada Trading Up 0.7 %

Shares of TSE LB opened at C$26.25 on Friday. Laurentian Bank of Canada has a one year low of C$24.45 and a one year high of C$29.49. The business has a fifty day simple moving average of C$26.72 and a 200 day simple moving average of C$26.39. The firm has a market capitalization of C$1.15 billion, a price-to-earnings ratio of -42.34, a PEG ratio of 0.76 and a beta of 1.25.

Laurentian Bank of Canada (TSE:LB) last announced its earnings results on Friday, August 30th. The company reported C$0.88 EPS for the quarter, topping the consensus estimate of C$0.85 by C$0.03. Laurentian Bank of Canada had a negative return on equity of 0.55% and a negative net margin of 1.64%. The business had revenue of C$256.50 million for the quarter, compared to the consensus estimate of C$257.90 million. On average, research analysts anticipate that Laurentian Bank of Canada will post 3.8414986 earnings per share for the current fiscal year.

Laurentian Bank of Canada Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, November 1st were paid a dividend of $0.47 per share. The ex-dividend date was Tuesday, October 1st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 7.16%. Laurentian Bank of Canada’s dividend payout ratio (DPR) is currently -303.23%.

About Laurentian Bank of Canada

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.