Laurentian Bank of Canada (TSE:LB) Price Target Cut to C$33.00 by Analysts at CSFB

Laurentian Bank of Canada (TSE:LBGet Rating) had its target price reduced by CSFB from C$39.00 to C$33.00 in a research report sent to investors on Tuesday morning, BayStreet.CA reports.

A number of other brokerages have also issued reports on LB. CIBC dropped their target price on shares of Laurentian Bank of Canada from C$43.00 to C$40.00 in a research report on Wednesday, September 7th. Cormark cut their price objective on shares of Laurentian Bank of Canada from C$48.00 to C$46.00 in a research report on Thursday, September 1st. National Bankshares decreased their target price on Laurentian Bank of Canada from C$51.00 to C$46.00 in a research report on Friday, November 18th. Scotiabank cut their price target on Laurentian Bank of Canada from C$43.00 to C$37.00 in a report on Tuesday. Finally, Keefe, Bruyette & Woods reduced their price objective on Laurentian Bank of Canada from C$40.00 to C$38.00 in a research report on Friday, November 18th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. According to data from, the stock currently has an average rating of Hold and an average price target of C$40.40.

Laurentian Bank of Canada Stock Performance

Shares of TSE:LB opened at C$33.01 on Tuesday. The stock’s 50-day moving average is C$30.95 and its 200-day moving average is C$36.56. The company has a market cap of C$1.43 billion and a P/E ratio of 25.59. Laurentian Bank of Canada has a 52-week low of C$28.23 and a 52-week high of C$45.29.

Laurentian Bank of Canada (TSE:LBGet Rating) last announced its earnings results on Wednesday, August 31st. The company reported C$1.24 earnings per share for the quarter, meeting the consensus estimate of C$1.24. The business had revenue of C$259.95 million for the quarter, compared to the consensus estimate of C$265.09 million. As a group, equities analysts predict that Laurentian Bank of Canada will post 5.0400001 EPS for the current year.

Laurentian Bank of Canada Dividend Announcement

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

Insiders Place Their Bets

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

Laurentian Bank of Canada Company Profile

(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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