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

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 given a dividend of 0.47 per share on Wednesday, May 1st. This represents a $1.88 annualized dividend and a yield of 6.72%. The ex-dividend date of this dividend is Thursday, March 28th.

Laurentian Bank of Canada Price Performance

Laurentian Bank of Canada stock opened at C$27.99 on Wednesday. The stock’s 50-day moving average is C$27.10 and its 200-day moving average is C$27.25. The company has a market cap 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 12 month low of C$24.92 and a 12 month high of C$48.23.

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

Wall Street Analysts Forecast Growth

LB has been the topic of several analyst reports. Raymond James dropped their target price on Laurentian Bank of Canada from C$32.00 to C$27.00 and set a “market perform” rating on the stock in a report on Friday, March 1st. Desjardins lowered Laurentian Bank of Canada from a “hold” rating to a “sell” rating and lowered 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 lowered 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. Scotiabank decreased their target price on Laurentian Bank of Canada from C$28.00 to C$26.00 and set a “sector perform” rating for the company in a research report on Wednesday, December 20th. Finally, Jefferies Financial Group decreased their target price on Laurentian Bank of Canada from C$25.00 to C$24.00 and set a “hold” rating for the company in a research report on Friday, March 1st. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, Laurentian Bank of Canada has an average rating of “Hold” and a consensus 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.