Laurentian Bank of Canada (TSE:LB) Plans $0.47 Quarterly Dividend

Laurentian Bank of Canada (TSE:LB) declared a quarterly dividend on Wednesday, February 28th, Zacks reports. Investors of record on Monday, April 1st will be paid a dividend of 0.47 per share on Wednesday, May 1st. This represents a $1.88 dividend on an annualized basis and a yield of 6.72%. The ex-dividend date is Thursday, March 28th.

Laurentian Bank of Canada Stock Up 0.4 %

Shares of LB opened at C$27.99 on Wednesday. The stock has a 50 day moving average price of C$27.10 and a 200 day moving average price of C$27.25. The company has a market capitalization of C$1.22 billion, a price-to-earnings ratio of 7.88, a price-to-earnings-growth ratio of 0.76 and a beta of 1.27. Laurentian Bank of Canada has a 52-week low of C$24.92 and a 52-week high of C$48.23.

Laurentian Bank of Canada (TSE:LB) last announced its quarterly earnings results on Thursday, February 29th. The company reported C$0.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.93 by C($0.02). The business had revenue of C$258.34 million during the quarter, compared to analyst estimates of C$257.80 million. Laurentian Bank of Canada had a net margin of 17.33% and a return on equity of 5.84%. On average, equities analysts anticipate that Laurentian Bank of Canada will post 3.8429752 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Desjardins cut Laurentian Bank of Canada from a “hold” rating to a “sell” rating and reduced their price objective for the company from C$27.00 to C$26.00 in a research note on Wednesday, February 7th. BMO Capital Markets reduced their price objective on Laurentian Bank of Canada from C$43.00 to C$33.00 and set a “market perform” rating for the company in a research note on Friday, December 8th. Raymond James reduced their price objective on Laurentian Bank of Canada from C$32.00 to C$27.00 and set a “market perform” rating for the company in a research note on Friday, March 1st. National Bankshares reduced their price objective on Laurentian Bank of Canada from C$28.00 to C$27.00 and set an “underperform” rating for the company in a research note on Friday, March 1st. Finally, Royal Bank of Canada cut their price target on 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. Three analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of C$28.70.

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.