Laurentian Bank of Canada (TSE:LB) Receives C$27.10 Consensus Target Price from Brokerages

Shares of Laurentian Bank of Canada (TSE:LB) have earned an average rating of “Reduce” from the ten brokerages that are covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a sell rating and seven have assigned a hold rating 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$27.10.

Several brokerages recently weighed in on LB. BMO Capital Markets boosted their target price on Laurentian Bank of Canada from C$27.00 to C$28.00 in a research note on Monday, November 18th. Cibc World Mkts upgraded shares of Laurentian Bank of Canada to a “hold” rating in a report on Wednesday, August 21st. Desjardins increased their price objective on shares of Laurentian Bank of Canada from C$25.00 to C$26.00 and gave the company a “sell” rating in a research report on Tuesday, August 6th. CIBC boosted their target price on shares of Laurentian Bank of Canada from C$28.00 to C$31.00 in a research report on Tuesday. Finally, Raymond James upped their price target on shares of Laurentian Bank of Canada from C$26.00 to C$27.00 in a research note on Wednesday, September 4th.

Laurentian Bank of Canada Stock Up 0.5 %

Shares of TSE:LB opened at C$29.65 on Wednesday. The firm has a 50 day moving average of C$27.21 and a 200 day moving average of C$26.65. The company has a market capitalization of C$1.30 billion, a price-to-earnings ratio of -47.84, a price-to-earnings-growth ratio of 0.76 and a beta of 1.25. Laurentian Bank of Canada has a 52 week low of C$24.45 and a 52 week high of C$29.75.

Laurentian Bank of Canada (TSE:LB) last posted its earnings results on Friday, August 30th. The company reported C$0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.85 by C$0.03. The company had revenue of C$256.50 million for 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%. On average, sell-side analysts expect that Laurentian Bank of Canada will post 3.8414986 EPS for the current year.

Laurentian Bank of Canada Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, November 1st were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 6.34%. The ex-dividend date of this dividend was Tuesday, October 1st. Laurentian Bank of Canada’s payout ratio is -303.23%.

About Laurentian Bank of Canada

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.