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

Shares of Laurentian Bank of Canada (TSE:LB) have been given an average rating of “Reduce” by the thirteen brokerages that are presently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a sell recommendation and ten have assigned a hold recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is C$28.39.

A number of analysts have recently commented on the stock. Raymond James reduced their price target on shares of Laurentian Bank of Canada from C$27.00 to C$26.00 and set a “market perform” rating for the company in a research note on Tuesday, June 4th. Royal Bank of Canada cut their target price on shares of Laurentian Bank of Canada from C$26.00 to C$25.00 and set an “underperform” rating for the company in a research report on Monday, June 3rd. National Bankshares cut their target price on shares of Laurentian Bank of Canada from C$27.00 to C$26.00 and set an “underperform” rating for the company in a research report on Monday, June 3rd. Jefferies Financial Group cut their target price on shares of Laurentian Bank of Canada from C$28.00 to C$26.00 and set a “hold” rating for the company in a research report on Thursday, June 6th. Finally, Desjardins boosted their target price on shares of Laurentian Bank of Canada from C$25.00 to C$26.00 and gave the company a “sell” rating in a research report on Tuesday, August 6th.

Laurentian Bank of Canada Stock Up 1.0 %

Shares of LB stock opened at C$26.50 on Monday. The company has a 50 day moving average price of C$26.12 and a 200-day moving average price of C$26.57. Laurentian Bank of Canada has a 52 week low of C$24.45 and a 52 week high of C$40.00. The firm has a market capitalization of C$1.16 billion, a PE ratio of -94.64, a P/E/G ratio of 0.76 and a beta of 1.25.

Laurentian Bank of Canada (TSE:LB) last announced its quarterly earnings results on Friday, May 31st. The company reported C$0.90 EPS for the quarter, topping analysts’ consensus estimates of C$0.84 by C$0.06. Laurentian Bank of Canada had a negative net margin of 0.04% and a negative return on equity of 0.01%. The firm had revenue of C$252.59 million during the quarter, compared to analyst estimates of C$253.47 million. Analysts anticipate that Laurentian Bank of Canada will post 3.9922601 earnings per share for the current year.

Laurentian Bank of Canada Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Thursday, August 1st were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 7.09%. The ex-dividend date was Tuesday, July 2nd. Laurentian Bank of Canada’s dividend payout ratio is currently -671.43%.

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.