Laurentian Bank of Canada (TSE:LB) Given New C$28.00 Price Target at CIBC

Laurentian Bank of Canada (TSE:LB) had its price target lowered by CIBC from C$30.00 to C$28.00 in a report issued on Tuesday, BayStreet.CA reports. The brokerage currently has a neutral rating on the stock.

A number of other equities analysts have also recently commented on the company. National Bankshares dropped their target price on Laurentian Bank of Canada from C$27.00 to C$26.00 and set an underperform rating for the company in a report on Monday, June 3rd. Desjardins lifted their price objective 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. Royal Bank of Canada reduced their target price on shares of Laurentian Bank of Canada from C$26.00 to C$25.00 and set an underperform rating on the stock in a research note on Monday, June 3rd. Raymond James dropped 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. Finally, Jefferies Financial Group reduced their price objective on shares of Laurentian Bank of Canada from C$28.00 to C$26.00 and set a hold rating on the stock in a research report on Thursday, June 6th. Three research analysts have rated the stock with a sell rating and ten have issued a hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of C$28.24.

Laurentian Bank of Canada Price Performance

Shares of LB opened at C$26.38 on Tuesday. The stock has a market capitalization of C$1.16 billion, a price-to-earnings ratio of -94.21, a price-to-earnings-growth ratio of 0.76 and a beta of 1.25. Laurentian Bank of Canada has a 1 year low of C$24.45 and a 1 year high of C$39.73. The business’s 50 day simple moving average is C$26.20 and its 200-day simple moving average is C$26.57.

Laurentian Bank of Canada (TSE:LB) last announced its quarterly earnings results on Friday, May 31st. The company reported C$0.90 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of C$252.59 million for the quarter, compared to analysts’ expectations of C$253.47 million. On average, sell-side analysts expect 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 disclosed a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Thursday, August 1st were issued a $0.47 dividend. The ex-dividend date of this dividend was Tuesday, July 2nd. This represents a $1.88 annualized dividend and a dividend yield of 7.13%. Laurentian Bank of Canada’s payout ratio is currently -671.43%.

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.