Laurentian Bank of Canada (TSE:LB) Receives C$28.00 Consensus PT from Analysts

Laurentian Bank of Canada (TSE:LB) has been given an average recommendation of “Reduce” by the eight brokerages that are presently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a sell recommendation and five have assigned a hold recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is C$28.00.

Several brokerages recently commented on LB. Jefferies Financial Group upped their price target on shares of Laurentian Bank of Canada from C$29.00 to C$30.00 and gave the company a “hold” rating in a research report on Monday, December 9th. Raymond James dropped their price target on shares of Laurentian Bank of Canada from C$29.00 to C$27.00 in a research note on Monday, March 3rd. Scotiabank decreased their target price on Laurentian Bank of Canada from C$33.00 to C$28.00 and set a “sector perform” rating for the company in a research report on Thursday, February 20th. National Bankshares lifted their price objective on Laurentian Bank of Canada from C$25.00 to C$27.00 and gave the stock an “underperform” rating in a research note on Monday, December 9th. Finally, BMO Capital Markets cut their target price on shares of Laurentian Bank of Canada from C$31.00 to C$30.00 in a research note on Monday, March 3rd.

Laurentian Bank of Canada Stock Down 2.2 %

Shares of LB stock opened at C$25.61 on Tuesday. The stock has a 50-day simple moving average of C$27.30 and a 200 day simple moving average of C$27.78. The stock has a market capitalization of C$1.13 billion, a P/E ratio of -204.26, a P/E/G ratio of 0.76 and a beta of 1.25. Laurentian Bank of Canada has a fifty-two week low of C$24.45 and a fifty-two week high of C$31.74.

Laurentian Bank of Canada Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, May 1st will be paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 7.34%. The ex-dividend date is Tuesday, April 1st. Laurentian Bank of Canada’s dividend payout ratio is -1,499.45%.

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.