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

Shares of Laurentian Bank of Canada (TSE:LB) have earned an average rating of “Reduce” from the eight research firms that are presently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a sell rating and five have issued a hold rating on the company. The average 1 year target price among analysts that have covered the stock in the last year is C$28.00.

LB has been the topic of a number of recent analyst reports. BMO Capital Markets cut their price objective on Laurentian Bank of Canada from C$31.00 to C$30.00 in a research note on Monday. CIBC upped their price objective on shares of Laurentian Bank of Canada from C$28.00 to C$31.00 in a report on Tuesday, November 26th. National Bankshares lifted their target price on shares of Laurentian Bank of Canada from C$25.00 to C$27.00 and gave the stock an “underperform” rating in a report on Monday, December 9th. Scotiabank lowered their price target on Laurentian Bank of Canada from C$33.00 to C$28.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 20th. Finally, Jefferies Financial Group boosted their price objective on Laurentian Bank of Canada from C$29.00 to C$30.00 and gave the stock a “hold” rating in a research report on Monday, December 9th.

Laurentian Bank of Canada Stock Performance

TSE:LB opened at C$26.72 on Friday. The company has a market capitalization of C$1.18 billion, a P/E ratio of -213.11, a P/E/G ratio of 0.76 and a beta of 1.25. The stock’s 50 day moving average price is C$28.17 and its 200 day moving average price is C$27.72. Laurentian Bank of Canada has a 52 week low of C$24.45 and a 52 week high of C$31.74.

Laurentian Bank of Canada Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 15th. Investors of record on Saturday, March 15th will be paid a $0.47 dividend. The ex-dividend date is Friday, March 7th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 7.04%. Laurentian Bank of Canada’s payout ratio is -1,499.45%.

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.