Laurentian Bank of Canada (TSE:LB) Receives Consensus Recommendation of “Reduce” from Analysts

Laurentian Bank of Canada (TSE:LB) has been assigned a consensus rating of “Reduce” from the eight brokerages that are currently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell rating and five have issued a hold rating on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is C$28.00.

LB has been the subject of several research analyst reports. Scotiabank lowered their target price on shares of Laurentian Bank of Canada from C$33.00 to C$28.00 and set a “sector perform” rating for the company in a report on Thursday, February 20th. National Bankshares raised their price objective on 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. Jefferies Financial Group boosted their target price on Laurentian Bank of Canada from C$29.00 to C$30.00 and gave the company a “hold” rating in a report on Monday, December 9th. Raymond James dropped their price target on Laurentian Bank of Canada from C$29.00 to C$27.00 in a research note on Monday, March 3rd. Finally, BMO Capital Markets reduced their price objective on Laurentian Bank of Canada from C$31.00 to C$30.00 in a research note on Monday, March 3rd.

Laurentian Bank of Canada Stock Up 0.7 %

TSE:LB opened at C$27.27 on Tuesday. Laurentian Bank of Canada has a 52 week low of C$24.45 and a 52 week high of C$31.74. The company has a fifty day simple moving average of C$27.51 and a two-hundred day simple moving average of C$27.78. The company has a market cap of C$1.20 billion, a price-to-earnings ratio of -217.50, a price-to-earnings-growth 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 will be paid on Thursday, May 1st. Shareholders of record on Thursday, May 1st will be given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 6.89%. The ex-dividend date of this dividend is Tuesday, April 1st. Laurentian Bank of Canada’s payout ratio is -1,499.45%.

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.