Laurentian Bank of Canada (TSE:LB) Receives C$27.01 Average Price Target from Analysts

Shares of Laurentian Bank of Canada (TSE:LB) have been assigned an average recommendation of “Reduce” from the eleven research firms that are currently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a sell rating and eight have issued a hold rating on the company. The average 1-year price target among brokers that have covered the stock in the last year is C$27.01.

LB has been the topic of several analyst reports. Raymond James lifted their price target on Laurentian Bank of Canada from C$26.00 to C$27.00 in a report on Wednesday, September 4th. Desjardins lifted their price target on shares of 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. CIBC decreased 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, Cibc World Mkts upgraded shares of Laurentian Bank of Canada to a “hold” rating in a report on Wednesday, August 21st.

Laurentian Bank of Canada Stock Performance

TSE LB opened at C$26.44 on Friday. The business has a fifty day moving average price of C$26.72 and a 200 day moving average price of C$26.39. The company has a market cap of C$1.16 billion, a P/E ratio of -42.63, 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$29.49.

Laurentian Bank of Canada (TSE:LB) last issued its earnings results on Friday, August 30th. The company reported C$0.88 earnings per share for the quarter, topping the consensus estimate of C$0.85 by C$0.03. The business had revenue of C$256.50 million for the quarter, compared to analysts’ expectations of C$257.90 million. Laurentian Bank of Canada had a negative return on equity of 0.55% and a negative net margin of 1.64%. 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. Shareholders of record on Friday, November 1st were paid a $0.47 dividend. The ex-dividend date was Tuesday, October 1st. This represents a $1.88 annualized dividend and a dividend yield of 7.11%. Laurentian Bank of Canada’s dividend payout ratio (DPR) is -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.