Desjardins Cuts Laurentian Bank of Canada (TSE:LB) Price Target to C$35.00

Laurentian Bank of Canada (TSE:LB) had its price target trimmed by Desjardins from C$39.00 to C$35.00 in a report published on Friday, BayStreet.CA reports. The firm currently has a hold rating on the stock.

LB has been the topic of several other reports. National Bankshares cut Laurentian Bank of Canada from an outperform rating to a sector perform rating and lowered their price objective for the company from C$45.00 to C$32.00 in a research report on Thursday, September 14th. CSFB lowered their price objective on Laurentian Bank of Canada from C$41.00 to C$39.00 and set a neutral rating on the stock in a research report on Friday, September 1st. Raymond James set a C$36.00 target price on shares of Laurentian Bank of Canada and gave the company a market perform rating in a research note on Thursday, July 13th. CIBC decreased their target price on shares of Laurentian Bank of Canada from C$60.00 to C$54.00 and set an outperform rating for the company in a research note on Tuesday, August 22nd. Finally, Royal Bank of Canada lowered Laurentian Bank of Canada from a sector perform rating to an underperform rating and reduced their price objective for the stock from C$39.00 to C$33.00 in a research note on Thursday, September 14th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Hold and a consensus target price of C$37.08.

Laurentian Bank of Canada Stock Performance

Shares of Laurentian Bank of Canada stock opened at C$32.17 on Friday. The stock has a market capitalization of C$1.40 billion, a PE ratio of 7.18, a price-to-earnings-growth ratio of 0.76 and a beta of 1.21. Laurentian Bank of Canada has a 52-week low of C$28.23 and a 52-week high of C$48.23. The company has a 50-day simple moving average of C$39.24 and a two-hundred day simple moving average of C$34.59.

Laurentian Bank of Canada Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Wednesday, November 1st will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 5.84%. The ex-dividend date is Thursday, September 28th. Laurentian Bank of Canada’s payout ratio is 41.96%.

Laurentian Bank of Canada Company Profile

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.