Laurentian Bank of Canada (TSE:LB) Price Target Raised to C$31.00 at CIBC

Laurentian Bank of Canada (TSE:LB) had its price target increased by CIBC from C$28.00 to C$31.00 in a research note issued to investors on Tuesday,BayStreet.CA reports.

A number of other equities analysts also recently issued reports on the stock. Scotiabank increased their price target on shares of Laurentian Bank of Canada from C$26.00 to C$30.00 in a research note on Monday. Raymond James raised their target price on Laurentian Bank of Canada from C$26.00 to C$27.00 in a research note on Wednesday, September 4th. Cibc World Mkts raised Laurentian Bank of Canada to a “hold” rating in a research note on Wednesday, August 21st. BMO Capital Markets increased their price objective on Laurentian Bank of Canada from C$27.00 to C$28.00 in a report on Monday, November 18th. Finally, Desjardins boosted their target price on shares of Laurentian Bank of Canada from C$25.00 to C$26.00 and gave the company a “sell” rating in a report on Tuesday, August 6th. Three equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of C$27.10.

Laurentian Bank of Canada Price Performance

Shares of Laurentian Bank of Canada stock opened at C$29.29 on Tuesday. The company’s fifty day simple moving average is C$27.09 and its two-hundred day simple moving average is C$26.58. Laurentian Bank of Canada has a 12-month low of C$24.45 and a 12-month high of C$29.49. The firm has a market cap of C$1.29 billion, a PE ratio of -47.24, a price-to-earnings-growth ratio of 0.76 and a beta of 1.25.

Laurentian Bank of Canada (TSE:LB) last issued its quarterly earnings data on Friday, August 30th. The company reported C$0.88 earnings per share 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 return on equity of 0.55% and a negative net margin of 1.64%. As a group, sell-side analysts expect that Laurentian Bank of Canada will post 3.8414986 earnings per share for the current fiscal year.

Laurentian Bank of Canada Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, November 1st were paid a dividend of $0.47 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $1.88 dividend on an annualized basis and a yield of 6.42%. Laurentian Bank of Canada’s dividend payout ratio is currently -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.