Credit Suisse Group Lowers Laurentian Bank of Canada (TSE:LB) Price Target to C$33.00

Laurentian Bank of Canada (TSE:LBGet Rating) had its price target cut by Credit Suisse Group to C$33.00 in a research report sent to investors on Tuesday, Stock Target Advisor reports.

LB has been the subject of a number of other reports. CSFB dropped their price objective on shares of Laurentian Bank of Canada from C$43.00 to C$39.00 in a research note on Thursday, September 1st. National Bankshares decreased their price objective on Laurentian Bank of Canada from C$51.00 to C$46.00 in a research report on Friday, November 18th. TD Securities upgraded Laurentian Bank of Canada from a hold rating to a buy rating and set a C$41.00 target price for the company in a report on Tuesday, November 15th. Barclays set a C$37.00 target price on Laurentian Bank of Canada in a research report on Monday, November 14th. Finally, Scotiabank lowered their price target on Laurentian Bank of Canada from C$50.00 to C$43.00 in a research report on Thursday, September 1st. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Hold and a consensus price target of C$40.40.

Laurentian Bank of Canada Price Performance

TSE LB opened at C$33.01 on Tuesday. Laurentian Bank of Canada has a 1-year low of C$28.23 and a 1-year high of C$45.29. The business has a 50 day simple moving average of C$30.95 and a two-hundred day simple moving average of C$36.56. The stock has a market capitalization of C$1.43 billion and a PE ratio of 25.59.

Laurentian Bank of Canada (TSE:LBGet Rating) last posted its earnings results on Wednesday, August 31st. The company reported C$1.24 EPS for the quarter, meeting analysts’ consensus estimates of C$1.24. The firm had revenue of C$259.95 million for the quarter, compared to the consensus estimate of C$265.09 million. On average, analysts anticipate that Laurentian Bank of Canada will post 5.0400001 EPS for the current fiscal year.

Laurentian Bank of Canada Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 1st. Stockholders of record on Tuesday, November 1st were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.45%. The ex-dividend date was Thursday, September 29th. Laurentian Bank of Canada’s dividend payout ratio is currently 137.98%.

Insider Transactions at Laurentian Bank of Canada

In related news, Director Nicholas Zelenczuk acquired 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 13th. The stock was bought at an average price of C$33.79 per share, for a total transaction of C$33,789.50. Following the acquisition, the director now directly owns 4,000 shares of the company’s stock, valued at approximately C$135,158.

About Laurentian Bank of Canada

(Get Rating)

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 company offers notice, demand, and term deposits; commercial, residential mortgage, and personal loans; real estate, and equipment and inventory financing; and credit life and disability insurance products.

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Analyst Recommendations for Laurentian Bank of Canada (TSE:LB)

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