Laurentian Bank of Canada (TSE:LB) Receives C$28.67 Consensus Target Price from Brokerages

Laurentian Bank of Canada (TSE:LB) has received an average recommendation of “Reduce” from the eight research firms that are currently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a sell recommendation and five have assigned a hold recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is C$28.67.

LB has been the subject of a number of research reports. Raymond James upped their price objective on Laurentian Bank of Canada from C$27.00 to C$29.00 and gave the stock a “market perform” rating in a report on Monday, December 9th. CIBC raised their target price on shares of Laurentian Bank of Canada from C$28.00 to C$31.00 in a report on Tuesday, November 26th. Scotiabank increased their price objective on Laurentian Bank of Canada from C$30.00 to C$33.00 and gave the stock a “sector perform” rating in a report on Monday, December 9th. Jefferies Financial Group lifted their price target on shares of Laurentian Bank of Canada from C$29.00 to C$30.00 and gave the company a “hold” rating in a report on Monday, December 9th. Finally, National Bankshares upped their price objective on shares of Laurentian Bank of Canada from C$25.00 to C$27.00 and gave the stock an “underperform” rating in a report on Monday, December 9th.

Laurentian Bank of Canada Trading Up 0.0 %

Shares of Laurentian Bank of Canada stock opened at C$29.18 on Thursday. The company has a market cap of C$1.28 billion, a price-to-earnings ratio of -47.06, a PEG ratio of 0.76 and a beta of 1.25. Laurentian Bank of Canada has a 12-month low of C$24.45 and a 12-month high of C$31.74. The company’s 50-day moving average price is C$28.89 and its 200-day moving average price is C$27.34.

Laurentian Bank of Canada Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, February 1st. Stockholders of record on Friday, January 3rd will be issued a dividend of $0.47 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $1.88 annualized dividend and a dividend yield of 6.44%. 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.