Analysts Set Laurentian Bank of Canada (TSE:LB) Target Price at C$28.67

Laurentian Bank of Canada (TSE:LB) has earned a consensus recommendation of “Reduce” from the eight brokerages that are covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is C$28.67.

Several research analysts have recently weighed in on the stock. Jefferies Financial Group increased their price objective on shares of Laurentian Bank of Canada from C$29.00 to C$30.00 and gave the stock a “hold” rating in a report on Monday, December 9th. Scotiabank increased their price target on shares of Laurentian Bank of Canada from C$30.00 to C$33.00 and gave the stock a “sector perform” rating in a research note on Monday, December 9th. National Bankshares lifted their price target on shares of Laurentian Bank of Canada from C$25.00 to C$27.00 and gave the company an “underperform” rating in a report on Monday, December 9th. Raymond James upped their price objective on Laurentian Bank of Canada from C$27.00 to C$29.00 and gave the stock a “market perform” rating in a report on Monday, December 9th. Finally, BMO Capital Markets increased their target price on Laurentian Bank of Canada from C$28.00 to C$31.00 in a research report on Monday, December 9th.

Laurentian Bank of Canada Stock Performance

Shares of LB opened at C$27.66 on Monday. Laurentian Bank of Canada has a 1 year low of C$24.45 and a 1 year high of C$31.74. The company’s 50 day simple moving average is C$28.79 and its 200 day simple moving average is C$27.56. The company has a market capitalization of C$1.21 billion, a price-to-earnings ratio of -44.61, a PEG ratio of 0.76 and a beta of 1.25.

Laurentian Bank of Canada Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Saturday, February 1st. Stockholders of record on Friday, January 3rd were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 6.80%. The ex-dividend date was Friday, January 3rd. Laurentian Bank of Canada’s dividend payout ratio (DPR) 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.