Laurentian Bank of Canada (TSE:LB) Reaches New 12-Month High – Time to Buy?

Laurentian Bank of Canada (TSE:LB) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$40.00 and last traded at C$39.98, with a volume of 111641 shares. The stock had previously closed at C$39.97.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on LB. CIBC downgraded shares of Laurentian Bank of Canada from a “neutral” rating to a “tender” rating and boosted their target price for the company from C$35.00 to C$40.50 in a report on Monday, December 8th. Scotiabank set a C$33.00 price objective on shares of Laurentian Bank of Canada and gave the company a “sector perform” rating in a research note on Tuesday, November 25th. Royal Bank Of Canada raised Laurentian Bank of Canada from a “strong sell” rating to a “hold” rating and increased their target price for the stock from C$25.00 to C$40.00 in a research report on Monday, December 8th. National Bankshares reduced their target price on Laurentian Bank of Canada from C$27.00 to C$26.00 and set an “underperform” rating on the stock in a report on Tuesday, September 2nd. Finally, Raymond James Financial lowered Laurentian Bank of Canada from a “market perform” rating to an “underperform” rating in a research note on Monday, December 8th. Two equities research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Laurentian Bank of Canada currently has a consensus rating of “Strong Sell” and a consensus target price of C$35.19.

Laurentian Bank of Canada Stock Performance

The company’s fifty day moving average is C$34.23 and its two-hundred day moving average is C$32.28. The firm has a market cap of C$1.78 billion, a price-to-earnings ratio of 14.08, a price-to-earnings-growth ratio of 0.76 and a beta of 1.44.

Laurentian Bank of Canada (TSE:LB) last released its quarterly earnings data on Friday, December 5th. The company reported C$0.73 EPS for the quarter. The company had revenue of C$244.71 million for the quarter. Laurentian Bank of Canada had a negative return on equity of 0.20% and a negative net margin of 0.30%. As a group, analysts forecast that Laurentian Bank of Canada will post 3.8414986 earnings per share for the current fiscal year.

Laurentian Bank of Canada Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Saturday, November 1st. Investors of record on Saturday, November 1st were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 4.7%. The ex-dividend date was Wednesday, October 1st. Laurentian Bank of Canada’s dividend payout ratio (DPR) is presently 66.20%.

Laurentian Bank of Canada Company Profile

Laurentian Bank of Canada provides personal banking, business banking and real estate and commercial financing to its personal, business, and institutional customers across Canada and the United States. The company reports three operating segments: personal, business services, and capital markets. The personal segment offers financial services to retail clients.