Laurentian Bank of Canada (TSE:LB) Price Target Lowered to C$28.00 at CIBC

Laurentian Bank of Canada (TSE:LB) had its price objective lowered by CIBC from C$30.00 to C$28.00 in a research report sent to investors on Tuesday morning, BayStreet.CA reports. The firm currently has a neutral rating on the stock.

Several other analysts have also recently commented on the stock. Royal Bank of Canada reduced their target price on shares of Laurentian Bank of Canada from C$26.00 to C$25.00 and set an underperform rating for the company in a research note on Monday, June 3rd. Desjardins lifted their price objective 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. 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 research report on Monday, June 3rd. Jefferies Financial Group reduced their price target on Laurentian Bank of Canada from C$28.00 to C$26.00 and set a hold rating for the company in a report on Thursday, June 6th. Finally, Raymond James decreased their price target on Laurentian Bank of Canada from C$27.00 to C$26.00 and set a market perform rating on the stock in a research note on Tuesday, June 4th. Three equities research analysts have rated the stock with a sell rating and ten have assigned a hold rating to the company. According to MarketBeat.com, Laurentian Bank of Canada currently has an average rating of Hold and an average price target of C$28.24.

Laurentian Bank of Canada Stock Down 0.7 %

LB opened at C$26.38 on Tuesday. Laurentian Bank of Canada has a 52 week low of C$24.45 and a 52 week high of C$39.73. The business has a 50 day moving average price of C$26.20 and a two-hundred day moving average price of C$26.57. The company has a market cap of C$1.16 billion, a PE ratio of -94.21, a P/E/G ratio of 0.76 and a beta of 1.25.

Laurentian Bank of Canada (TSE:LB) last released its quarterly earnings results on Friday, May 31st. The company reported C$0.90 EPS for the quarter, topping the consensus estimate of C$0.84 by C$0.06. Laurentian Bank of Canada had a negative return on equity of 0.01% and a negative net margin of 0.04%. The business had revenue of C$252.59 million during the quarter, compared to analysts’ expectations of C$253.47 million. As a group, sell-side analysts expect that Laurentian Bank of Canada will post 3.9922601 EPS for the current fiscal year.

Laurentian Bank of Canada Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Thursday, August 1st were issued a $0.47 dividend. The ex-dividend date of this dividend was Tuesday, July 2nd. This represents a $1.88 annualized dividend and a yield of 7.13%. Laurentian Bank of Canada’s dividend payout ratio is currently -671.43%.

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.