Laurentian Bank of Canada (TSE:LB) Receives C$28.70 Average Target Price from Analysts

Laurentian Bank of Canada (TSE:LB) has been assigned a consensus recommendation of “Reduce” from the fourteen analysts that are presently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a sell recommendation, ten have given a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is C$28.70.

LB has been the subject of several analyst reports. Jefferies Financial Group decreased their target price on shares of Laurentian Bank of Canada from C$25.00 to C$24.00 and set a “hold” rating for the company in a research note on Friday, March 1st. National Bankshares dropped their target price on Laurentian Bank of Canada from C$28.00 to C$27.00 and set an “underperform” rating on the stock in a research report on Friday, March 1st. Royal Bank of Canada reduced 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 report on Friday, March 1st. Cormark lowered their price objective on Laurentian Bank of Canada from C$28.00 to C$26.00 in a research note on Friday, March 1st. Finally, CIBC upped their target price on Laurentian Bank of Canada from C$32.00 to C$33.00 and gave the company a “neutral” rating in a research report on Wednesday, February 14th.

Laurentian Bank of Canada Stock Up 1.2 %

TSE:LB opened at C$25.73 on Tuesday. The company has a market cap of C$1.13 billion, a P/E ratio of 7.25, a P/E/G ratio of 0.76 and a beta of 1.27. The firm’s 50 day moving average is C$27.22 and its two-hundred day moving average is C$26.72. Laurentian Bank of Canada has a fifty-two week low of C$24.92 and a fifty-two week high of C$48.23.

Laurentian Bank of Canada (TSE:LB) last issued its 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 firm had revenue of C$258.34 million for 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 forecast that Laurentian Bank of Canada will post 3.8072464 earnings per share for the current fiscal year.

Laurentian Bank of Canada Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, May 1st will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 7.31%. The ex-dividend date is Thursday, March 28th. Laurentian Bank of Canada’s payout ratio is currently 52.96%.

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.