Laurentian Bank of Canada (TSE:LB) Receives C$28.70 Consensus Price Target from Brokerages

Shares of Laurentian Bank of Canada (TSE:LB) have been given an average recommendation of “Reduce” by the fourteen research firms that are currently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is C$28.70.

A number of research analysts have weighed in on LB shares. BMO Capital Markets decreased their price objective on Laurentian Bank of Canada from C$43.00 to C$33.00 and set a “market perform” rating on the stock in a report on Friday, December 8th. TD Securities lowered Laurentian Bank of Canada from a “buy” rating to a “hold” rating and decreased their price objective for the company from C$30.00 to C$26.00 in a report on Friday, December 8th. National Bankshares decreased their price objective on Laurentian Bank of Canada from C$28.00 to C$27.00 and set an “underperform” rating on the stock in a report on Friday, March 1st. Jefferies Financial Group decreased their price objective on Laurentian Bank of Canada from C$25.00 to C$24.00 and set a “hold” rating on the stock in a report on Friday, March 1st. Finally, Cormark reduced their price target on Laurentian Bank of Canada from C$28.00 to C$26.00 in a report on Friday, March 1st.

Laurentian Bank of Canada Stock Performance

LB stock opened at C$28.02 on Friday. The firm has a market cap of C$1.23 billion, a price-to-earnings ratio of 7.89, a PEG ratio of 0.76 and a beta of 1.27. The firm has a 50-day simple moving average of C$27.17 and a two-hundred day simple moving average of C$27.27. Laurentian Bank of Canada has a one year low of C$24.92 and a one year high of C$48.23.

Laurentian Bank of Canada (TSE:LB) last issued its quarterly earnings results on Thursday, February 29th. The company reported C$0.91 earnings per share for the quarter, missing the consensus estimate of C$0.93 by C($0.02). The business had revenue of C$258.34 million during the quarter, compared to analyst estimates of C$257.80 million. Laurentian Bank of Canada had a return on equity of 5.84% and a net margin of 17.33%. As a group, equities analysts predict that Laurentian Bank of Canada will post 3.8429752 earnings per share for the current fiscal year.

Laurentian Bank of Canada Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, May 1st will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 6.71%. The ex-dividend date is Thursday, March 28th. Laurentian Bank of Canada’s payout ratio is 52.96%.

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.