Laurentian Bank of Canada (TSE:LB) Receives Average Rating of “Reduce” from Brokerages

Laurentian Bank of Canada (TSE:LB) has received a consensus recommendation of “Reduce” from the twelve research firms that are presently covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a sell recommendation and nine have assigned a hold recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is C$27.42.

LB has been the subject of a number of research reports. Cibc World Mkts upgraded Laurentian Bank of Canada to a “hold” rating in a research note on Wednesday, August 21st. Jefferies Financial Group lowered their price objective 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. National Bankshares reduced their target price 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 research report on Monday, June 3rd. CIBC lowered their price target on shares of Laurentian Bank of Canada from C$30.00 to C$28.00 and set a “neutral” rating for the company in a report on Tuesday, August 20th. Finally, Desjardins boosted 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 report on Tuesday, August 6th.

Laurentian Bank of Canada Price Performance

The company has a market cap of C$1.16 billion, a P/E ratio of -42.65, a P/E/G ratio of 0.76 and a beta of 1.24. Laurentian Bank of Canada has a 1-year low of C$24.45 and a 1-year high of C$36.16. The company’s 50-day moving average price is C$26.29 and its 200-day moving average price is C$26.57.

Laurentian Bank of Canada Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Tuesday, October 1st will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of ?. The ex-dividend date is Tuesday, October 1st. Laurentian Bank of Canada’s payout ratio is currently -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.