Laurentian Bank of Canada (TSE:LB) Given Average Rating of “Reduce” by Analysts

Shares of Laurentian Bank of Canada (TSE:LB) have earned an average recommendation of “Reduce” from the ten research firms that are covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a sell recommendation and seven have given a hold recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is C$27.10.

Several equities analysts recently commented on LB shares. Scotiabank upped their price target on shares of Laurentian Bank of Canada from C$26.00 to C$30.00 in a research report on Monday. Cibc World Mkts raised Laurentian Bank of Canada to a “hold” rating in a research report on Wednesday, August 21st. Raymond James boosted their price target on Laurentian Bank of Canada from C$26.00 to C$27.00 in a research report on Wednesday, September 4th. Desjardins raised their price objective on Laurentian Bank of Canada from C$25.00 to C$26.00 and gave the stock a “sell” rating in a report on Tuesday, August 6th. Finally, CIBC boosted their target price on Laurentian Bank of Canada from C$28.00 to C$31.00 in a report on Tuesday.

Laurentian Bank of Canada Stock Performance

Laurentian Bank of Canada stock opened at C$29.29 on Wednesday. The stock has a 50-day moving average price of C$27.09 and a 200 day moving average price of C$26.58. Laurentian Bank of Canada has a 52 week low of C$24.45 and a 52 week high of C$29.49. The stock has a market cap of C$1.29 billion, a PE ratio of -47.24, a P/E/G 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.85 by C$0.03. The firm had revenue of C$256.50 million for the quarter, compared to analyst estimates of C$257.90 million. Laurentian Bank of Canada had a negative net margin of 1.64% and a negative return on equity of 0.55%. On average, equities analysts predict that Laurentian Bank of Canada will post 3.8414986 EPS for the current year.

Laurentian Bank of Canada Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, November 1st were paid a $0.47 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 6.42%. Laurentian Bank of Canada’s dividend payout ratio (DPR) is presently -303.23%.

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.