Laurentian Bank of Canada (TSE:LB) Receives C$28.67 Consensus Price Target from Brokerages

Laurentian Bank of Canada (TSE:LB) has received an average recommendation of “Reduce” from the eight ratings firms that are covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a sell recommendation and five have assigned a hold recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is C$28.67.

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

Laurentian Bank of Canada Stock Performance

Shares of TSE:LB opened at C$28.87 on Friday. The firm has a market cap of C$1.27 billion, a price-to-earnings ratio of -46.56, a P/E/G ratio of 0.76 and a beta of 1.25. The firm has a fifty day moving average price of C$28.13 and a 200 day moving average price of C$26.96. Laurentian Bank of Canada has a fifty-two week low of C$24.45 and a fifty-two week high of C$31.74.

Laurentian Bank of Canada Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Saturday, February 1st. Stockholders of record on Friday, January 3rd will be paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 6.51%. Laurentian Bank of Canada’s dividend 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.