Laurentian Bank of Canada (TSE:LB) Receives C$27.10 Consensus Target Price from Analysts

Shares of Laurentian Bank of Canada (TSE:LB) have been given a consensus recommendation of “Reduce” by the ten analysts that are covering the company, Marketbeat reports. Three analysts have rated the stock with a sell recommendation and seven have assigned a hold recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is C$27.10.

Several brokerages recently issued reports on LB. BMO Capital Markets upped their price objective on shares of Laurentian Bank of Canada from C$27.00 to C$28.00 in a research note on Monday, November 18th. CIBC upped their price target on Laurentian Bank of Canada from C$28.00 to C$31.00 in a research report on Tuesday. Cibc World Mkts raised Laurentian Bank of Canada to a “hold” rating in a report on Wednesday, August 21st. Scotiabank boosted their price objective on Laurentian Bank of Canada from C$26.00 to C$30.00 in a research note on Monday, November 25th. Finally, Raymond James raised their target price on Laurentian Bank of Canada from C$26.00 to C$27.00 in a research note on Wednesday, September 4th.

Laurentian Bank of Canada Stock Performance

TSE LB opened at C$29.65 on Wednesday. The business has a fifty day moving average price of C$27.21 and a 200 day moving average price of C$26.65. The company has a market cap of C$1.30 billion, a P/E ratio of -47.84, a P/E/G ratio of 0.76 and a beta of 1.25. Laurentian Bank of Canada has a one year low of C$24.45 and a one year high of C$29.75.

Laurentian Bank of Canada (TSE:LB) last issued its earnings results on Friday, August 30th. The company reported C$0.88 EPS for the quarter, beating analysts’ consensus estimates of C$0.85 by C$0.03. The business had revenue of C$256.50 million during 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%. As a group, sell-side analysts predict that Laurentian Bank of Canada will post 3.8414986 EPS for the current fiscal year.

Laurentian Bank of Canada Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, November 1st were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 6.34%. The ex-dividend date of this dividend was Tuesday, October 1st. Laurentian Bank of Canada’s dividend payout ratio is presently -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.