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

Laurentian Bank of Canada (TSE:LB) has earned an average rating of “Reduce” from the eight brokerages that are covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell rating and five have issued a hold rating on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is C$28.67.

Several brokerages recently commented on LB. Raymond James increased their price objective on shares of Laurentian Bank of Canada from C$27.00 to C$29.00 and gave the company a “market perform” rating in a research report on Monday, December 9th. National Bankshares increased their price target on shares of Laurentian Bank of Canada from C$25.00 to C$27.00 and gave the company an “underperform” rating in a report on Monday, December 9th. BMO Capital Markets raised their price target on shares of Laurentian Bank of Canada from C$28.00 to C$31.00 in a research report on Monday, December 9th. CIBC upped their price objective on Laurentian Bank of Canada from C$28.00 to C$31.00 in a research report on Tuesday, November 26th. Finally, Scotiabank increased their target price on Laurentian Bank of Canada from C$30.00 to C$33.00 and gave the company a “sector perform” rating in a research note on Monday, December 9th.

Laurentian Bank of Canada Price Performance

Shares of TSE:LB opened at C$29.18 on Thursday. The business has a fifty day moving average price of C$28.75 and a 200-day moving average price of C$27.28. The company has a market capitalization of C$1.28 billion, a PE ratio of -47.06, a PEG ratio of 0.76 and a beta of 1.25. Laurentian Bank of Canada has a 1-year low of C$24.45 and a 1-year high of C$31.74.

Laurentian Bank of Canada Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, February 1st. Investors of record on Friday, January 3rd will be given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 6.44%. The ex-dividend date of this dividend is Friday, January 3rd. Laurentian Bank of Canada’s dividend payout ratio (DPR) 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.