Laurentian Bank of Canada (TSE:LB) Hits New 1-Year High After Analyst Upgrade

Laurentian Bank of Canada (TSE:LB)’s share price hit a new 52-week high during mid-day trading on Monday after CIBC raised their price target on the stock from C$28.00 to C$31.00. The stock traded as high as C$29.40 and last traded at C$29.26, with a volume of 127744 shares traded. The stock had previously closed at C$28.81.

Other equities analysts also recently issued reports about the stock. Cibc World Mkts raised shares of Laurentian Bank of Canada to a “hold” rating in a report on Wednesday, August 21st. Desjardins boosted their price target on shares of Laurentian Bank of Canada from C$25.00 to C$26.00 and gave the stock a “sell” rating in a report on Tuesday, August 6th. Scotiabank increased their price objective on shares of Laurentian Bank of Canada from C$26.00 to C$30.00 in a research note on Monday. BMO Capital Markets lifted their target price on shares of Laurentian Bank of Canada from C$27.00 to C$28.00 in a research report on Monday, November 18th. Finally, Raymond James upped their target price on Laurentian Bank of Canada from C$26.00 to C$27.00 in a report on Wednesday, September 4th. Three equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of C$27.10.

Laurentian Bank of Canada Price Performance

The firm has a market capitalization of C$1.29 billion, a PE ratio of -47.13, a P/E/G ratio of 0.76 and a beta of 1.25. The stock has a 50-day simple moving average of C$27.09 and a 200-day simple moving average of C$26.58.

Laurentian Bank of Canada (TSE:LB) last announced its quarterly earnings data on Friday, August 30th. The company reported C$0.88 earnings per share for the quarter, topping the consensus estimate of C$0.85 by C$0.03. The company had revenue of C$256.50 million during the quarter, compared to analyst estimates of C$257.90 million. Laurentian Bank of Canada had a negative return on equity of 0.55% and a negative net margin of 1.64%. Equities analysts forecast that Laurentian Bank of Canada will post 3.8414986 earnings per share for the current fiscal year.

Laurentian Bank of Canada Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, November 1st were paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 6.42%. The ex-dividend date was Tuesday, October 1st. Laurentian Bank of Canada’s payout ratio is currently -303.23%.

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.