Brokers Offer Predictions for Laurentian Bank of Canada’s FY2024 Earnings (TSE:LB)

Laurentian Bank of Canada (TSE:LB) – Equities researchers at Cormark cut their FY2024 EPS estimates for shares of Laurentian Bank of Canada in a research note issued to investors on Tuesday, September 3rd. Cormark analyst L. Persaud now forecasts that the company will post earnings of $3.56 per share for the year, down from their prior forecast of $3.61. The consensus estimate for Laurentian Bank of Canada’s current full-year earnings is $3.94 per share.

Several other research analysts also recently weighed in on LB. Royal Bank of Canada lowered their price objective on shares of Laurentian Bank of Canada from C$26.00 to C$25.00 and set an “underperform” rating on the stock in a report on Monday, June 3rd. Cibc World Mkts upgraded shares of Laurentian Bank of Canada to a “hold” rating in a report on Wednesday, August 21st. Raymond James upped their price objective on shares of Laurentian Bank of Canada from C$26.00 to C$27.00 in a report on Wednesday. CIBC lowered their price objective on shares of Laurentian Bank of Canada from C$30.00 to C$28.00 and set a “neutral” rating on the stock in a report on Tuesday, August 20th. Finally, Desjardins upped their price objective 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. Three analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of C$27.42.

Laurentian Bank of Canada Stock Down 0.1 %

Laurentian Bank of Canada stock opened at C$26.39 on Wednesday. The firm’s fifty day moving average is C$26.28 and its 200 day moving average is C$26.59. Laurentian Bank of Canada has a 12-month low of C$24.45 and a 12-month high of C$38.25. The company has a market capitalization of C$1.16 billion, a PE ratio of -94.25, a PEG ratio of 0.76 and a beta of 1.25.

Laurentian Bank of Canada Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Tuesday, October 1st will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $1.88 annualized dividend and a yield of 7.12%. Laurentian Bank of Canada’s payout ratio is currently -671.43%.

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.