Cibc World Mkts upgraded shares of Laurentian Bank of Canada (TSE:LB – Free Report) to a hold rating in a research note released on Wednesday, Zacks.com reports.
LB has been the topic of several other reports. CIBC dropped their target price on Laurentian Bank of Canada from C$30.00 to C$28.00 and set a neutral rating on the stock in a report on Tuesday. Royal Bank of Canada cut their price objective 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 report on Monday, June 3rd. Raymond James dropped their target price on Laurentian Bank of Canada from C$27.00 to C$26.00 and set a market perform rating on the stock in a research report on Tuesday, June 4th. Desjardins upped 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 research report on Tuesday, August 6th. Finally, National Bankshares cut their price target on shares of Laurentian Bank of Canada from C$27.00 to C$26.00 and set an underperform rating on the stock in a report on Monday, June 3rd. Three research analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company. According to data from MarketBeat.com, Laurentian Bank of Canada has a consensus rating of Hold and a consensus price target of C$28.24.
Get Our Latest Stock Report on Laurentian Bank of Canada
Laurentian Bank of Canada Trading Up 0.0 %
Laurentian Bank of Canada (TSE:LB – Get Free Report) last released its quarterly earnings data on Friday, May 31st. The company reported C$0.90 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of C$253.47 million. As a group, sell-side analysts predict that Laurentian Bank of Canada will post 3.9922601 EPS for the current year.
Laurentian Bank of Canada Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Thursday, August 1st were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 7.12%. The ex-dividend date was Tuesday, July 2nd. Laurentian Bank of Canada’s dividend payout ratio (DPR) is -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.
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