Laurentian Bank of Canada (TSE:LB) Given New C$30.00 Price Target at Scotiabank

Laurentian Bank of Canada (TSE:LB) had its price objective boosted by Scotiabank from C$26.00 to C$30.00 in a research note released on Monday,BayStreet.CA reports.

Several other research firms have also recently weighed in on LB. CIBC dropped their price objective 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 lifted their price target on shares of 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. BMO Capital Markets upped their price objective on shares of Laurentian Bank of Canada from C$27.00 to C$28.00 in a report on Monday, November 18th. 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 increased their price target on shares of Laurentian Bank of Canada from C$26.00 to C$27.00 in a research note on Wednesday, September 4th. Three analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of C$26.80.

Laurentian Bank of Canada Stock Performance

TSE:LB opened at C$29.29 on Monday. Laurentian Bank of Canada has a fifty-two week low of C$24.45 and a fifty-two week high of C$29.49. The firm has a market cap of C$1.29 billion, a PE ratio of -47.24, a price-to-earnings-growth ratio of 0.76 and a beta of 1.25. The business has a 50 day moving average price of C$27.09 and a 200-day moving average price of C$26.58.

Laurentian Bank of Canada (TSE:LB) last released its quarterly earnings data on Friday, August 30th. The company reported C$0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.85 by C$0.03. The firm had revenue of C$256.50 million for the quarter, compared to analysts’ expectations of C$257.90 million. Laurentian Bank of Canada had a negative net margin of 1.64% and a negative return on equity of 0.55%. Research analysts predict that Laurentian Bank of Canada will post 3.8414986 EPS for the current year.

Laurentian Bank of Canada Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, November 1st were given a $0.47 dividend. The ex-dividend date was Tuesday, October 1st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 6.42%. Laurentian Bank of Canada’s dividend payout ratio is currently -303.23%.

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.