National Bank Financial Weighs in on Laurentian Bank of Canada’s Q3 2023 Earnings (TSE:LB)

Laurentian Bank of Canada (TSE:LB – Get Rating) – Analysts at National Bank Financial reduced their Q3 2023 earnings estimates for Laurentian Bank of Canada in a research note issued to investors on Wednesday, May 17th. National Bank Financial analyst G. Dechaine now expects that the company will earn $1.11 per share for the quarter, down from their prior estimate of $1.19. The consensus estimate for Laurentian Bank of Canada’s current full-year earnings is $4.74 per share.

A number of other brokerages have also issued reports on LB. CIBC decreased their target price on shares of Laurentian Bank of Canada from C$40.00 to C$37.00 in a research report on Tuesday, May 16th. National Bankshares decreased their target price on shares of Laurentian Bank of Canada from C$42.00 to C$39.00 in a research report on Thursday. Scotiabank decreased their price target on shares of Laurentian Bank of Canada from C$39.00 to C$38.00 in a report on Friday, February 17th. Barclays decreased their price target on shares of Laurentian Bank of Canada from C$36.00 to C$34.00 in a report on Tuesday, May 9th. Finally, Cormark decreased their price target on shares of Laurentian Bank of Canada from C$45.00 to C$42.00 in a report on Wednesday, March 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Laurentian Bank of Canada currently has a consensus rating of “Hold” and an average target price of C$39.55.

Laurentian Bank of Canada Price Performance

LB stock opened at C$30.65 on Monday. The company’s 50 day simple moving average is C$31.64 and its 200-day simple moving average is C$32.97. Laurentian Bank of Canada has a 12 month low of C$28.23 and a 12 month high of C$43.32. The firm has a market capitalization of C$1.33 billion, a PE ratio of 6.35, a P/E/G ratio of 0.76 and a beta of 1.15.

Laurentian Bank of Canada (TSE:LB – Get Rating) last issued its earnings results on Tuesday, February 28th. The company reported C$1.15 earnings per share for the quarter, topping the consensus estimate of C$1.12 by C$0.03. Laurentian Bank of Canada had a net margin of 22.90% and a return on equity of 8.15%. The company had revenue of C$260.07 million for the quarter, compared to analyst estimates of C$259.00 million.

Laurentian Bank of Canada Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, May 1st. Shareholders of record on Monday, May 1st were paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 6.00%. The ex-dividend date of this dividend was Friday, March 31st. Laurentian Bank of Canada’s payout ratio is 38.10%.

About Laurentian Bank of Canada

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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 Personal Banking segment offers financial services, such as financial advisory services to financial intermediaries; and operates digital direct-to-customer platform to retail clients.