Laurentian Bank of Canada (TSE:LB) Given Consensus Recommendation of “Reduce” by Analysts

Shares of Laurentian Bank of Canada (TSE:LB) have earned an average rating of “Reduce” from the ten analysts that are covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell rating and seven have given a hold rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is C$27.10.

Several analysts recently issued reports on LB shares. Scotiabank lifted their target price on Laurentian Bank of Canada from C$26.00 to C$30.00 in a research note on Monday, November 25th. BMO Capital Markets lifted their price objective on shares of Laurentian Bank of Canada from C$27.00 to C$28.00 in a research report on Monday, November 18th. CIBC upped their target price on shares of Laurentian Bank of Canada from C$28.00 to C$31.00 in a research report on Tuesday, November 26th. Raymond James raised their target price on shares of Laurentian Bank of Canada from C$26.00 to C$27.00 in a research note on Wednesday, September 4th. Finally, Desjardins boosted their price target on shares of Laurentian Bank of Canada from C$25.00 to C$26.00 and gave the stock a “sell” rating in a research note on Tuesday, August 6th.

Laurentian Bank of Canada Price Performance

Shares of LB stock opened at C$29.65 on Wednesday. Laurentian Bank of Canada has a 1 year low of C$24.45 and a 1 year high of C$29.75. The firm has a fifty day moving average price of C$27.26 and a 200-day moving average price of C$26.66. The company has a market cap of C$1.30 billion, a price-to-earnings ratio of -47.82, a PEG ratio of 0.76 and a beta of 1.25.

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

Laurentian Bank of Canada Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, November 1st were paid a $0.47 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $1.88 dividend on an annualized basis and a yield of 6.34%. Laurentian Bank of Canada’s payout ratio is -303.23%.

About Laurentian Bank of Canada

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.