Laurentian Bank of Canada (TSE:LB) Receives C$28.70 Consensus PT from Analysts

Shares of Laurentian Bank of Canada (TSE:LB) have been assigned a consensus recommendation of “Reduce” from the fourteen brokerages that are currently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is C$28.70.

A number of research firms have recently issued reports on LB. Royal Bank of Canada cut their target price on shares of Laurentian Bank of Canada from C$30.00 to C$26.00 and set an “underperform” rating for the company in a research note on Friday, March 1st. Cormark decreased their target price on Laurentian Bank of Canada from C$28.00 to C$26.00 in a research report on Friday, March 1st. Jefferies Financial Group dropped their price target on Laurentian Bank of Canada from C$25.00 to C$24.00 and set a “hold” rating for the company in a report on Friday, March 1st. Desjardins lowered Laurentian Bank of Canada from a “hold” rating to a “sell” rating and decreased their price objective for the company from C$27.00 to C$26.00 in a report on Wednesday, February 7th. Finally, Raymond James dropped their target price on Laurentian Bank of Canada from C$32.00 to C$27.00 and set a “market perform” rating for the company in a report on Friday, March 1st.

Laurentian Bank of Canada Stock Performance

TSE:LB opened at C$25.73 on Tuesday. Laurentian Bank of Canada has a 52-week low of C$24.92 and a 52-week high of C$48.23. The company has a market cap of C$1.13 billion, a PE ratio of 7.25, a PEG ratio of 0.76 and a beta of 1.27. The stock has a 50-day simple moving average of C$27.22 and a 200 day simple moving average of C$26.72.

Laurentian Bank of Canada (TSE:LB) last posted its quarterly earnings results on Thursday, February 29th. The company reported C$0.91 earnings per share for the quarter, missing the consensus estimate 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 company had revenue of C$258.34 million for the quarter, compared to analyst estimates of C$257.80 million. On average, research analysts predict that Laurentian Bank of Canada will post 3.8072464 earnings per share for the current fiscal year.

Laurentian Bank of Canada Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, May 1st will be paid a $0.47 dividend. The ex-dividend date is Thursday, March 28th. This represents a $1.88 annualized dividend and a dividend yield of 7.31%. Laurentian Bank of Canada’s dividend payout ratio is 52.96%.

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.