Analysts Set Laurentian Bank of Canada (TSE:LB) Target Price at C$28.70

Laurentian Bank of Canada (TSE:LBGet Free Report) has earned an average rating of “Reduce” from the fourteen research firms that are covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is C$28.70.

LB has been the topic of several research reports. BMO Capital Markets dropped their price objective on shares of Laurentian Bank of Canada from C$43.00 to C$33.00 and set a “market perform” rating on the stock in a report on Friday, December 8th. TD Securities lowered shares of Laurentian Bank of Canada from a “buy” rating to a “hold” rating and cut their price objective for the company from C$30.00 to C$26.00 in a report on Friday, December 8th. Royal Bank of Canada cut their price objective on shares of Laurentian Bank of Canada from C$30.00 to C$26.00 and set an “underperform” rating on the stock in a report on Friday, March 1st. National Bankshares lowered their target price on shares of Laurentian Bank of Canada from C$28.00 to C$27.00 and set an “underperform” rating for the company in a research note on Friday, March 1st. Finally, Raymond James lowered their target price on shares of Laurentian Bank of Canada from C$32.00 to C$27.00 and set a “market perform” rating for the company in a research note on Friday, March 1st.

Read Our Latest Stock Analysis on LB

Laurentian Bank of Canada Stock Down 1.3 %

Shares of TSE:LB opened at C$27.90 on Friday. The firm has a fifty day moving average of C$27.05 and a two-hundred day moving average of C$27.38. The firm has a market capitalization of C$1.22 billion, a P/E ratio of 7.86, a price-to-earnings-growth ratio of 0.76 and a beta of 1.27. Laurentian Bank of Canada has a 12-month low of C$24.92 and a 12-month high of C$48.23.

Laurentian Bank of Canada (TSE:LBGet Free Report) last released its quarterly earnings data on Thursday, February 29th. The company reported C$0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.93 by C($0.02). The business had revenue of C$258.34 million during the quarter, compared to analyst estimates of C$257.80 million. Laurentian Bank of Canada had a net margin of 17.33% and a return on equity of 5.84%. Equities research analysts expect that Laurentian Bank of Canada will post 3.8429752 earnings per share for the current fiscal year.

Laurentian Bank of Canada Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 1st will be paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 6.74%. The ex-dividend date of this dividend is Thursday, March 28th. Laurentian Bank of Canada’s dividend payout ratio is presently 52.96%.

About Laurentian Bank of Canada

(Get Free Report

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.

Further Reading

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

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