Laurentian Bank of Canada (TSE:LB) Given Consensus Recommendation of “Reduce” by Brokerages

Shares of Laurentian Bank of Canada (TSE:LB) have earned an average rating of “Reduce” from the eight analysts that are currently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a sell recommendation and five have given a hold recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is C$28.00.

Several research firms have recently commented on LB. Jefferies Financial Group increased their price target on shares of Laurentian Bank of Canada from C$29.00 to C$30.00 and gave the company a “hold” rating in a research report on Monday, December 9th. Raymond James lowered their target price on Laurentian Bank of Canada from C$29.00 to C$27.00 in a report on Monday, March 3rd. National Bankshares raised their price target on Laurentian Bank of Canada from C$25.00 to C$27.00 and gave the stock an “underperform” rating in a research report on Monday, December 9th. BMO Capital Markets reduced their price objective on Laurentian Bank of Canada from C$31.00 to C$30.00 in a research report on Monday, March 3rd. Finally, Scotiabank dropped their price objective on Laurentian Bank of Canada from C$33.00 to C$28.00 and set a “sector perform” rating for the company in a research report on Thursday, February 20th.

Laurentian Bank of Canada Trading Up 0.7 %

Shares of TSE LB opened at C$27.27 on Tuesday. The company’s 50-day moving average price is C$27.51 and its 200 day moving average price is C$27.78. Laurentian Bank of Canada has a 52 week low of C$24.45 and a 52 week high of C$31.74. The stock has a market cap of C$1.20 billion, a price-to-earnings ratio of -217.50, a PEG ratio of 0.76 and a beta of 1.25.

Laurentian Bank of Canada Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, May 1st will be paid a $0.47 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $1.88 annualized dividend and a yield of 6.89%. Laurentian Bank of Canada’s payout ratio is currently -1,499.45%.

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.