Laurentian Bank of Canada (TSE:LB) Sets New 52-Week High After Analyst Upgrade

Laurentian Bank of Canada (TSE:LB)’s share price hit a new 52-week high during mid-day trading on Monday after Scotiabank raised their price target on the stock from C$26.00 to C$30.00. The stock traded as high as C$29.40 and last traded at C$29.26, with a volume of 127744 shares changing hands. The stock had previously closed at C$28.81.

Other equities research analysts have also recently issued reports about the stock. CIBC reduced their price target on shares of Laurentian Bank of Canada from C$30.00 to C$28.00 and set a “neutral” rating for the company in a research report on Tuesday, August 20th. Desjardins boosted their target price on Laurentian Bank of Canada from C$25.00 to C$26.00 and gave the company a “sell” rating in a report on Tuesday, August 6th. Raymond James raised their price target on Laurentian Bank of Canada from C$26.00 to C$27.00 in a research note on Wednesday, September 4th. BMO Capital Markets lifted their price target on Laurentian Bank of Canada from C$27.00 to C$28.00 in a research report on Monday, November 18th. Finally, Cibc World Mkts raised Laurentian Bank of Canada to a “hold” rating in a report on Wednesday, August 21st. Three research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of C$26.80.

Laurentian Bank of Canada Trading Up 1.7 %

The company has a market cap of C$1.29 billion, a price-to-earnings ratio of -47.24, a PEG ratio of 0.76 and a beta of 1.25. The company’s 50 day moving average price is C$27.09 and its 200 day moving average price is C$26.58.

Laurentian Bank of Canada (TSE:LB) last announced its quarterly earnings data on Friday, August 30th. The company reported C$0.88 EPS for the quarter, beating analysts’ consensus estimates of C$0.85 by C$0.03. Laurentian Bank of Canada had a negative net margin of 1.64% and a negative return on equity of 0.55%. The firm had revenue of C$256.50 million during the quarter, compared to the consensus estimate of C$257.90 million. Sell-side analysts predict that Laurentian Bank of Canada will post 3.8414986 earnings per share for the current year.

Laurentian Bank of Canada Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, November 1st were issued a $0.47 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $1.88 annualized dividend and a dividend yield of 6.42%. Laurentian Bank of Canada’s dividend payout ratio is currently -303.23%.

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.