Laurentian Bank of Canada (TSE:LB) Price Target Raised to C$31.00

Laurentian Bank of Canada (TSE:LB) had its price objective lifted by CIBC from C$28.00 to C$31.00 in a report issued on Tuesday morning,BayStreet.CA reports.

A number of other analysts also recently issued reports on the stock. Raymond James lifted their price target on shares of Laurentian Bank of Canada from C$26.00 to C$27.00 in a report on Wednesday, September 4th. Scotiabank lifted their target price on Laurentian Bank of Canada from C$26.00 to C$30.00 in a report on Monday. Cibc World Mkts raised Laurentian Bank of Canada to a “hold” rating in a research note on Wednesday, August 21st. BMO Capital Markets lifted their price objective on Laurentian Bank of Canada from C$27.00 to C$28.00 in a research note on Monday, November 18th. Finally, Desjardins upped their price objective on 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. Three analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to MarketBeat, Laurentian Bank of Canada currently has an average rating of “Hold” and an average target price of C$27.10.

Laurentian Bank of Canada Price Performance

Shares of TSE:LB opened at C$29.50 on Tuesday. The company has a market capitalization of C$1.30 billion, a P/E ratio of -47.58, a P/E/G ratio of 0.76 and a beta of 1.25. Laurentian Bank of Canada has a 1-year low of C$24.45 and a 1-year high of C$29.63. The firm’s 50 day simple moving average is C$27.18 and its two-hundred day simple moving average is C$26.63.

Laurentian Bank of Canada (TSE:LB) last issued its earnings results 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. Laurentian Bank of Canada had a negative net margin of 1.64% and a negative return on equity of 0.55%. The company had revenue of C$256.50 million during the quarter, compared to the consensus estimate of C$257.90 million. On average, sell-side analysts anticipate that Laurentian Bank of Canada will post 3.8414986 earnings per share for the current fiscal year.

Laurentian Bank of Canada Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, November 1st were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 6.37%. The ex-dividend date was Tuesday, October 1st. Laurentian Bank of Canada’s dividend payout ratio (DPR) is presently -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.