Laurentian Bank of Canada (TSE:LB) Receives Average Recommendation of “Reduce” from Analysts

Shares of Laurentian Bank of Canada (TSE:LB) have been assigned an average recommendation of “Reduce” from the ten brokerages that are covering the company, MarketBeat reports. Three analysts have rated the stock with a sell rating and seven have given a hold rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is C$27.10.

A number of research firms recently weighed in on LB. CIBC increased their price objective on shares of Laurentian Bank of Canada from C$28.00 to C$31.00 in a report on Tuesday. Cibc World Mkts upgraded shares of Laurentian Bank of Canada to a “hold” rating in a research note on Wednesday, August 21st. BMO Capital Markets lifted their price target on Laurentian Bank of Canada from C$27.00 to C$28.00 in a report on Monday, November 18th. Desjardins increased their price objective on Laurentian Bank of Canada from C$25.00 to C$26.00 and gave the stock a “sell” rating in a report on Tuesday, August 6th. Finally, Scotiabank lifted their target price on Laurentian Bank of Canada from C$26.00 to C$30.00 in a research note on Monday.

Laurentian Bank of Canada Price Performance

Shares of LB stock opened at C$29.29 on Wednesday. The company has a market cap of C$1.29 billion, a P/E ratio of -47.24, a PEG ratio of 0.76 and a beta of 1.25. The business has a 50 day moving average of C$27.09 and a two-hundred day moving average of C$26.58. Laurentian Bank of Canada has a 52 week low of C$24.45 and a 52 week high of C$29.49.

Laurentian Bank of Canada (TSE:LB) last issued its quarterly earnings data 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 firm 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 return on equity of 0.55% and a negative net margin of 1.64%. Analysts expect that Laurentian Bank of Canada will post 3.8414986 EPS for the current fiscal 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 paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 6.42%. The ex-dividend date was Tuesday, October 1st. 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.