Scotiabank Issues Positive Forecast for Laurentian Bank of Canada (TSE:LB) Stock Price

Laurentian Bank of Canada (TSE:LB) had its price objective boosted by Scotiabank from C$26.00 to C$30.00 in a report published on Monday,BayStreet.CA reports.

Several other research firms have also recently commented on LB. Desjardins increased their price target 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 note on Tuesday, August 6th. BMO Capital Markets lifted their target price on Laurentian Bank of Canada from C$27.00 to C$28.00 in a research note on Monday, November 18th. Raymond James upped their price target on Laurentian Bank of Canada from C$26.00 to C$27.00 in a research note on Wednesday, September 4th. Cibc World Mkts upgraded Laurentian Bank of Canada to a “hold” rating in a research report on Wednesday, August 21st. Finally, CIBC dropped their price objective on 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. Three equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of C$27.10.

Laurentian Bank of Canada Stock Performance

Shares of LB opened at C$29.39 on Monday. The company has a market cap of C$1.29 billion, a price-to-earnings ratio of -47.15, a PEG ratio of 0.76 and a beta of 1.25. The stock has a fifty day moving average price of C$27.13 and a two-hundred day moving average price of C$26.61. Laurentian Bank of Canada has a 52-week low of C$24.45 and a 52-week high of C$29.55.

Laurentian Bank of Canada (TSE:LB) last released its quarterly earnings results on Friday, August 30th. The company reported C$0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.85 by C$0.03. Laurentian Bank of Canada had a negative return on equity of 0.55% and a negative net margin of 1.64%. The business had revenue of C$256.50 million during the quarter, compared to analysts’ expectations of C$257.90 million. As a group, research analysts predict that Laurentian Bank of Canada will post 3.8414986 EPS for the current fiscal year.

Laurentian Bank of Canada Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, November 1st were paid a $0.47 dividend. The ex-dividend date was Tuesday, October 1st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 6.40%. Laurentian Bank of Canada’s dividend payout ratio (DPR) is presently -303.23%.

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.