Laurentian Bank of Canada Plans Quarterly Dividend of $0.47 (TSE:LB)

Laurentian Bank of Canada (TSE:LB) announced a quarterly dividend on Tuesday, October 1st, Zacks reports. Investors of record on Friday, November 1st will be given a dividend of 0.47 per share on Friday, November 1st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 6.86%. The ex-dividend date is Tuesday, October 1st.

Laurentian Bank of Canada Stock Performance

TSE:LB opened at C$27.40 on Friday. Laurentian Bank of Canada has a 1 year low of C$24.45 and a 1 year high of C$29.86. The stock has a fifty day moving average price of C$26.44 and a two-hundred day moving average price of C$26.56. The stock has a market capitalization of C$1.20 billion, a price-to-earnings ratio of -44.19, a PEG ratio of 0.76 and a beta of 1.24.

Laurentian Bank of Canada (TSE:LB) last announced its quarterly earnings results 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. Laurentian Bank of Canada had a negative net margin of 1.64% and a negative return on equity of 0.55%. The business had revenue of C$256.50 million during the quarter, compared to the consensus estimate of C$257.90 million. On average, analysts predict that Laurentian Bank of Canada will post 3.837535 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on LB. Cibc World Mkts raised shares of Laurentian Bank of Canada to a “hold” rating in a report on Wednesday, August 21st. Raymond James raised their price objective on Laurentian Bank of Canada from C$26.00 to C$27.00 in a research note on Wednesday, September 4th. Royal Bank of Canada decreased their target price on Laurentian Bank of Canada from C$26.00 to C$25.00 and set an “underperform” rating on the stock in a research report on Monday, June 3rd. Desjardins raised their price target on Laurentian Bank of Canada from C$25.00 to C$26.00 and gave the company a “sell” rating in a research report on Tuesday, August 6th. Finally, Jefferies Financial Group decreased their price objective on shares of Laurentian Bank of Canada from C$28.00 to C$26.00 and set a “hold” rating on the stock in a research report on Thursday, June 6th. Three equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of C$27.01.

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.