Laurentian Bank of Canada (TSE:LB) Receives C$27.01 Consensus Target Price from Brokerages

Laurentian Bank of Canada (TSE:LB) has been given an average recommendation of “Reduce” by the eleven research firms that are presently covering the company, Marketbeat reports. Three analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is C$27.01.

Several equities research analysts recently weighed in on the company. CIBC decreased their price target on Laurentian Bank of Canada from C$30.00 to C$28.00 and set a “neutral” rating for the company in a report on Tuesday, August 20th. Desjardins upped their price objective on 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. Cibc World Mkts raised shares of Laurentian Bank of Canada to a “hold” rating in a research note on Wednesday, August 21st. Finally, Raymond James boosted their price objective on shares of Laurentian Bank of Canada from C$26.00 to C$27.00 in a report on Wednesday, September 4th.

Laurentian Bank of Canada Trading Down 0.2 %

TSE:LB opened at C$26.29 on Tuesday. Laurentian Bank of Canada has a 12-month low of C$24.45 and a 12-month high of C$29.49. The firm has a market cap of C$1.15 billion, a PE ratio of -42.40, a price-to-earnings-growth ratio of 0.76 and a beta of 1.24. The stock has a fifty day moving average price of C$26.48 and a 200 day moving average price of C$26.48.

Laurentian Bank of Canada (TSE:LB) last announced its quarterly earnings results on Friday, August 30th. The company reported C$0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.85 by C$0.03. The company had revenue of C$256.50 million during the quarter, compared to the consensus estimate of C$257.90 million. Laurentian Bank of Canada had a negative return on equity of 0.55% and a negative net margin of 1.64%. Equities analysts forecast that Laurentian Bank of Canada will post 3.837535 EPS for the current year.

Laurentian Bank of Canada Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, November 1st will be given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 7.15%. The ex-dividend date of this dividend is Tuesday, October 1st. Laurentian Bank of Canada’s payout ratio is -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.