Laurentian Bank of Canada (LB) to Issue Quarterly Dividend of $0.47 on November 1st

Laurentian Bank of Canada (TSE:LB) announced a quarterly dividend on Tuesday, October 1st, Zacks reports. Stockholders of record on Friday, November 1st will be paid a dividend of 0.47 per share on Friday, November 1st. This represents a $1.88 annualized dividend and a dividend yield of 6.86%. The ex-dividend date of this dividend is Tuesday, October 1st.

Laurentian Bank of Canada Stock Up 0.5 %

Shares of LB opened at C$27.40 on Friday. The company has a market cap of C$1.20 billion, a P/E ratio of -44.19, a PEG ratio of 0.76 and a beta of 1.24. Laurentian Bank of Canada has a fifty-two week low of C$24.45 and a fifty-two week high of C$29.86. The firm’s 50 day moving average price is C$26.44 and its 200 day moving average price is C$26.56.

Laurentian Bank of Canada (TSE:LB) last released its earnings results on Friday, August 30th. The company reported C$0.88 EPS for the quarter, topping the consensus estimate of C$0.85 by C$0.03. Laurentian Bank of Canada had a negative return on equity of 0.55% and a negative net margin of 1.64%. The firm had revenue of C$256.50 million during the quarter, compared to analysts’ expectations of C$257.90 million. Research analysts forecast that Laurentian Bank of Canada will post 3.837535 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently commented on LB shares. Royal Bank of Canada dropped their target price on Laurentian Bank of Canada from C$26.00 to C$25.00 and set an “underperform” rating on the stock in a report on Monday, June 3rd. Cibc World Mkts upgraded Laurentian Bank of Canada to a “hold” rating in a report on Wednesday, August 21st. Jefferies Financial Group decreased their target price on Laurentian Bank of Canada from C$28.00 to C$26.00 and set a “hold” rating for the company in a research note on Thursday, June 6th. Desjardins upped their price target on 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. Finally, CIBC cut their price objective on shares of Laurentian Bank of Canada from C$30.00 to C$28.00 and set a “neutral” rating on the stock in a report on Tuesday, August 20th. Three investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to MarketBeat.com, Laurentian Bank of Canada presently has a consensus rating of “Hold” and a consensus target price of C$27.01.

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.