Laurentian Bank of Canada (LB) Set to Announce Quarterly Earnings on Friday

Laurentian Bank of Canada (TSE:LB) is scheduled to release its earnings data before the market opens on Friday, December 6th. Analysts expect the company to announce earnings of C$0.88 per share for the quarter.

Laurentian Bank of Canada (TSE:LB) last announced its quarterly earnings data on Friday, August 30th. The company reported C$0.88 EPS for the quarter, beating analysts’ consensus estimates of C$0.85 by C$0.03. Laurentian Bank of Canada had a negative net margin of 1.64% and a negative return on equity of 0.55%. The business had revenue of C$256.50 million during the quarter, compared to analyst estimates of C$257.90 million.

Laurentian Bank of Canada Stock Up 0.4 %

Shares of LB opened at C$29.50 on Friday. The stock’s 50-day moving average price is C$27.18 and its 200 day moving average price is C$26.63. The firm has a market capitalization of C$1.30 billion, a price-to-earnings ratio of -47.58, a P/E/G ratio of 0.76 and a beta of 1.25. Laurentian Bank of Canada has a 12-month low of C$24.45 and a 12-month high of C$29.63.

Laurentian Bank of Canada Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, November 1st were paid a dividend of $0.47 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $1.88 dividend on an annualized basis and a yield of 6.37%. Laurentian Bank of Canada’s dividend payout ratio is currently -303.23%.

Analyst Ratings Changes

Several research firms have recently weighed in on LB. Cibc World Mkts upgraded Laurentian Bank of Canada to a “hold” rating in a research note on Wednesday, August 21st. CIBC upped their price target on Laurentian Bank of Canada from C$28.00 to C$31.00 in a research report on Tuesday. BMO Capital Markets lifted their price objective on Laurentian Bank of Canada from C$27.00 to C$28.00 in a report on Monday, November 18th. Desjardins upped their target price on shares of Laurentian Bank of Canada from C$25.00 to C$26.00 and gave the stock a “sell” rating in a report on Tuesday, August 6th. Finally, Raymond James increased their target price on shares of Laurentian Bank of Canada from C$26.00 to C$27.00 in a research report on Wednesday, September 4th. Three research 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 currently has a consensus rating of “Hold” and an average price target of C$27.10.

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.