Laurentian Bank of Canada (TSE:LB) Receives C$28.31 Consensus PT from Brokerages

Shares of Laurentian Bank of Canada (TSE:LB) have been given an average rating of “Reduce” by the fourteen brokerages that are covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is C$28.31.

Several research analysts have issued reports on LB shares. CIBC cut their price target on Laurentian Bank of Canada from C$33.00 to C$30.00 and set a “neutral” rating on the stock in a report on Monday, June 3rd. Jefferies Financial Group cut their price target on Laurentian Bank of Canada from C$28.00 to C$26.00 and set a “hold” rating on the stock in a report on Thursday, June 6th. 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. National Bankshares dropped their target price on Laurentian Bank of Canada from C$27.00 to C$26.00 and set an “underperform” rating on the stock in a report on Monday, June 3rd. Finally, Desjardins dropped their price target on Laurentian Bank of Canada from C$26.00 to C$25.00 and set a “sell” rating on the stock in a report on Tuesday, June 4th.

Laurentian Bank of Canada Stock Down 0.5 %

Shares of LB stock opened at C$25.94 on Friday. The stock’s fifty day simple moving average is C$26.28 and its 200 day simple moving average is C$26.74. Laurentian Bank of Canada has a twelve month low of C$24.45 and a twelve month high of C$48.23. The firm has a market capitalization of C$1.13 billion, a P/E ratio of 7.31, a P/E/G ratio of 0.76 and a beta of 1.28.

Laurentian Bank of Canada (TSE:LB) last announced its earnings results on Friday, May 31st. The company reported C$0.90 EPS for the quarter, beating the consensus estimate of C$0.84 by C$0.06. Laurentian Bank of Canada had a return on equity of 5.84% and a net margin of 17.33%. The company had revenue of C$252.59 million for the quarter, compared to analyst estimates of C$253.47 million. As a group, equities research analysts expect that Laurentian Bank of Canada will post 3.7793103 EPS for the current fiscal year.

Laurentian Bank of Canada Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Thursday, August 1st will be paid a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 7.25%. The ex-dividend date is Tuesday, July 2nd. Laurentian Bank of Canada’s payout ratio is currently 52.96%.

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.