Laurentian Bank of Canada (TSE:LB) Hits New 12-Month High on Analyst Upgrade

Laurentian Bank of Canada (TSE:LB) hit a new 52-week high during trading on Monday after CIBC raised their price target on the stock from C$28.00 to C$31.00. The company traded as high as C$29.40 and last traded at C$29.26, with a volume of 127744 shares traded. The stock had previously closed at C$28.81.

LB has been the subject of several other reports. Scotiabank upped their price objective on Laurentian Bank of Canada from C$26.00 to C$30.00 in a research report on Monday. Desjardins increased their target price on shares of 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. BMO Capital Markets lifted their price target on shares of Laurentian Bank of Canada from C$27.00 to C$28.00 in a report on Monday, November 18th. Raymond James increased their price objective on shares of Laurentian Bank of Canada from C$26.00 to C$27.00 in a research note on Wednesday, September 4th. Finally, Cibc World Mkts raised shares of Laurentian Bank of Canada to a “hold” rating in a research note on Wednesday, August 21st. Three analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of C$27.10.

Laurentian Bank of Canada Price Performance

The firm has a market capitalization of C$1.29 billion, a P/E ratio of -47.13, a price-to-earnings-growth ratio of 0.76 and a beta of 1.25. The company’s 50 day moving average is C$27.09 and its 200-day moving average is C$26.58.

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

Laurentian Bank of Canada Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, November 1st were given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 6.42%. The ex-dividend date was Tuesday, October 1st. Laurentian Bank of Canada’s payout ratio 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.