Canaccord Genuity Trims Laurentian Bank of Canada (LB) Target Price to C$40.00

Laurentian Bank of Canada (TSE:LB) had its target price cut by Canaccord Genuity from C$44.00 to C$40.00 in a research note issued to investors on Thursday morning.

A number of other equities analysts also recently commented on the stock. TD Securities lowered their target price on shares of Laurentian Bank of Canada from C$55.00 to C$51.00 and set a buy rating for the company in a research note on Wednesday, September 5th. National Bank Financial lowered their target price on shares of Laurentian Bank of Canada from C$48.00 to C$45.00 and set a sector perform rating for the company in a research note on Wednesday, September 5th. BMO Capital Markets downgraded shares of Laurentian Bank of Canada from an outperform rating to a market perform rating and lowered their target price for the stock from C$57.00 to C$50.00 in a research note on Wednesday, September 5th. Cormark lowered their target price on shares of Laurentian Bank of Canada from C$53.00 to C$45.00 in a research note on Wednesday, September 5th. Finally, Barclays lowered their target price on shares of Laurentian Bank of Canada from C$52.00 to C$49.00 in a research note on Wednesday, September 5th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of C$49.73.

Shares of LB stock opened at C$41.80 on Thursday. Laurentian Bank of Canada has a 12 month low of C$40.25 and a 12 month high of C$62.90.

Laurentian Bank of Canada (TSE:LB) last issued its earnings results on Tuesday, September 4th. The company reported C$1.34 EPS for the quarter, missing analysts’ consensus estimates of C$1.47 by C($0.13). The company had revenue of C$260.66 million for the quarter, compared to analysts’ expectations of C$267.51 million. Analysts forecast that Laurentian Bank of Canada will post 5.33248936490214 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 1st. Shareholders of record on Monday, October 1st were paid a $0.64 dividend. The ex-dividend date was Friday, September 28th. This represents a $2.56 annualized dividend and a yield of 6.12%. Laurentian Bank of Canada’s dividend payout ratio is presently 46.79%.

In related news, insider William James Alexander Mason acquired 2,000 shares of the firm’s stock in a transaction on Friday, September 7th. The stock was bought at an average price of C$42.50 per share, for a total transaction of C$85,000.00.

About Laurentian Bank of Canada

Laurentian Bank of Canada, together with its subsidiaries, provides banking services to individuals, small and medium-sized enterprises, and independent advisors in Canada and the United States. It operates through four segments: Retail Services, Business Services, B2B Bank, and Capital Markets. The company offers transactional products and current accounts, term deposits, and investment accounts; personal line of credit, personal loans, student loans, and registered retirement savings plans; financing for agriculture, real estate, and commercial industries, as well as small and medium-sized enterprises; mortgage solutions, such as variable-rate mortgage, fixed-rate mortgage, equity line of credit, mortgage insurance, and retirement line of credit; and credit and business cards, as well as equipment finance and leasing solutions.

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Analyst Recommendations for Laurentian Bank of Canada (TSE:LB)

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