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 MarketBeat.com, 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

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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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