Laurentian Bank of Canada (TSE:LB) Receives Average Recommendation of “Reduce” from Brokerages

Laurentian Bank of Canada (TSE:LB) has been given an average recommendation of “Reduce” by the eight ratings firms that are covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation and five have assigned a hold recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is C$28.67.

LB has been the subject of a number of recent research reports. National Bankshares boosted their price objective on Laurentian Bank of Canada from C$25.00 to C$27.00 and gave the company an “underperform” rating in a research note on Monday, December 9th. Jefferies Financial Group increased their price objective on shares of Laurentian Bank of Canada from C$29.00 to C$30.00 and gave the stock a “hold” rating in a research note on Monday, December 9th. BMO Capital Markets lifted their target price on shares of Laurentian Bank of Canada from C$28.00 to C$31.00 in a research note on Monday, December 9th. CIBC upped their target price on shares of Laurentian Bank of Canada from C$28.00 to C$31.00 in a report on Tuesday, November 26th. Finally, Raymond James raised their price target on Laurentian Bank of Canada from C$27.00 to C$29.00 and gave the company a “market perform” rating in a report on Monday, December 9th.

Laurentian Bank of Canada Stock Performance

TSE:LB opened at C$29.18 on Thursday. The stock has a 50-day simple moving average of C$28.75 and a two-hundred day simple moving average of C$27.28. The firm has a market capitalization of C$1.28 billion, a PE ratio of -47.06, a P/E/G ratio of 0.76 and a beta of 1.25. Laurentian Bank of Canada has a 52-week low of C$24.45 and a 52-week high of C$31.74.

Laurentian Bank of Canada Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, February 1st. Shareholders of record on Friday, January 3rd will be paid a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 6.44%. The ex-dividend date is Friday, January 3rd. Laurentian Bank of Canada’s payout ratio is currently -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.