Laurentian Bank of Canada (TSE:LB) Price Target Raised to C$31.00

Laurentian Bank of Canada (TSE:LB) had its target price raised by CIBC from C$28.00 to C$31.00 in a report issued on Tuesday morning,BayStreet.CA reports.

A number of other research firms have also recently commented on LB. Scotiabank upped their price objective on Laurentian Bank of Canada from C$26.00 to C$30.00 in a research report on Monday. BMO Capital Markets upped their price target on shares of Laurentian Bank of Canada from C$27.00 to C$28.00 in a research report on Monday, November 18th. Raymond James increased their price objective on shares of Laurentian Bank of Canada from C$26.00 to C$27.00 in a research note on Wednesday, September 4th. Desjardins boosted their target price 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 report on Tuesday, August 6th. Finally, Cibc World Mkts upgraded shares of Laurentian Bank of Canada to a “hold” rating in a research report on Wednesday, August 21st. Three investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. According to data from MarketBeat.com, Laurentian Bank of Canada currently has a consensus rating of “Hold” and a consensus price target of C$27.10.

Laurentian Bank of Canada Price Performance

LB opened at C$29.29 on Tuesday. The stock has a market capitalization of C$1.29 billion, a price-to-earnings ratio of -47.24, a PEG ratio of 0.76 and a beta of 1.25. The firm has a 50 day moving average price of C$27.09 and a 200-day moving average price of C$26.58. Laurentian Bank of Canada has a twelve month low of C$24.45 and a twelve month high of C$29.49.

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

Laurentian Bank of Canada Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, November 1st were given 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 6.42%. Laurentian Bank of Canada’s payout ratio is currently -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.