Laurentian Bank of Canada Plans Quarterly Dividend of $0.47 (TSE:LB)

Laurentian Bank of Canada (TSE:LBGet Free Report) declared a quarterly dividend on Wednesday, February 28th, Zacks reports. Shareholders of record on Monday, April 1st will be given a dividend of 0.47 per share on Wednesday, May 1st. This represents a $1.88 dividend on an annualized basis and a yield of 6.74%. The ex-dividend date is Thursday, March 28th.

Laurentian Bank of Canada Stock Performance

Laurentian Bank of Canada stock opened at C$27.88 on Tuesday. Laurentian Bank of Canada has a 1 year low of C$24.92 and a 1 year high of C$48.23. The firm’s 50-day moving average is C$27.07 and its 200-day moving average is C$27.31. The company has a market cap of C$1.22 billion, a P/E ratio of 7.85, a PEG ratio of 0.76 and a beta of 1.27.

Laurentian Bank of Canada (TSE:LBGet Free Report) last issued its earnings results on Thursday, February 29th. The company reported C$0.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.93 by C($0.02). Laurentian Bank of Canada had a return on equity of 5.84% and a net margin of 17.33%. The business had revenue of C$258.34 million during the quarter, compared to the consensus estimate of C$257.80 million. As a group, sell-side analysts predict that Laurentian Bank of Canada will post 3.8429752 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Scotiabank reduced their price objective on Laurentian Bank of Canada from C$28.00 to C$26.00 and set a “sector perform” rating for the company in a research report on Wednesday, December 20th. Jefferies Financial Group dropped their price objective on shares of Laurentian Bank of Canada from C$25.00 to C$24.00 and set a “hold” rating on the stock in a report on Friday, March 1st. CIBC boosted their target price on shares of Laurentian Bank of Canada from C$32.00 to C$33.00 and gave the company a “neutral” rating in a research note on Wednesday, February 14th. Cormark dropped their price target on shares of Laurentian Bank of Canada from C$28.00 to C$26.00 in a research note on Friday, March 1st. Finally, TD Securities downgraded Laurentian Bank of Canada from a “buy” rating to a “hold” rating and reduced their price objective for the stock from C$30.00 to C$26.00 in a research report on Friday, December 8th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Laurentian Bank of Canada presently has an average rating of “Hold” and an average target price of C$28.70.

Check Out Our Latest Research Report on LB

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.

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Dividend History for Laurentian Bank of Canada (TSE:LB)

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