Laurentian Bank of Canada (TSE:LB) Sets New 52-Week High After Analyst Upgrade

Laurentian Bank of Canada (TSE:LB) shares reached a new 52-week high during trading on Monday after Scotiabank raised their price target on the stock from C$26.00 to C$30.00. The company traded as high as C$29.40 and last traded at C$29.26, with a volume of 127744 shares trading hands. The stock had previously closed at C$28.81.

LB has been the subject of several other research reports. BMO Capital Markets lifted their price target on shares of Laurentian Bank of Canada from C$27.00 to C$28.00 in a research note on Monday, November 18th. Cibc World Mkts raised Laurentian Bank of Canada to a “hold” rating in a research report on Wednesday, August 21st. Desjardins upped their price objective on shares of Laurentian Bank of Canada from C$25.00 to C$26.00 and gave the stock a “sell” rating in a research note on Tuesday, August 6th. CIBC cut their target price 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 research report on Tuesday, August 20th. Finally, Raymond James boosted their price target on shares of Laurentian Bank of Canada from C$26.00 to C$27.00 in a report on Wednesday, September 4th. Three analysts have rated the stock with a sell rating and seven have given a hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of C$26.80.

Laurentian Bank of Canada Stock Performance

The company has a 50 day moving average of C$27.09 and a 200-day moving average of C$26.58. The stock has a market cap of C$1.29 billion, a price-to-earnings 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 announced its earnings results on Friday, August 30th. The company reported C$0.88 earnings per share for the quarter, topping the consensus estimate of C$0.85 by C$0.03. The firm had revenue of C$256.50 million for the quarter, compared to the consensus estimate of C$257.90 million. Laurentian Bank of Canada had a negative net margin of 1.64% and a negative return on equity of 0.55%. On average, research analysts anticipate that Laurentian Bank of Canada will post 3.8414986 EPS for the current year.

Laurentian Bank of Canada Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, November 1st were paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 6.42%. The ex-dividend date of this dividend was Tuesday, October 1st. Laurentian Bank of Canada’s payout ratio is presently -303.23%.

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.