Laurentian Bank of Canada (TSE:LB) Price Target Raised to C$29.00

Laurentian Bank of Canada (TSE:LB) had its price target upped by Desjardins from C$27.00 to C$29.00 in a report published on Tuesday,BayStreet.CA reports. The brokerage currently has a sell rating on the stock.

A number of other equities research analysts also recently issued reports on LB. Raymond James upped their price objective on Laurentian Bank of Canada from C$27.00 to C$28.00 and gave the company a “market perform” rating in a research report on Tuesday. Jefferies Financial Group decreased their price objective on Laurentian Bank of Canada from C$29.00 to C$27.00 in a research report on Monday, April 21st. CIBC increased their price target on Laurentian Bank of Canada from C$28.00 to C$33.00 and gave the company a “neutral” rating in a report on Tuesday. BMO Capital Markets dropped their price objective on shares of Laurentian Bank of Canada from C$31.00 to C$30.00 in a research note on Monday, March 3rd. Finally, National Bankshares lifted their price objective on shares of Laurentian Bank of Canada from C$25.00 to C$28.00 and gave the stock an “underperform” rating in a research note on Tuesday. Three analysts have rated the stock with a sell rating and five have given a hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of C$29.57.

Laurentian Bank of Canada Trading Down 0.4%

Shares of TSE LB opened at C$29.89 on Tuesday. The firm’s 50-day moving average price is C$27.37 and its 200-day moving average price is C$27.96. The stock has a market capitalization of C$1.32 billion, a price-to-earnings ratio of -238.40, a P/E/G ratio of 0.76 and a beta of 1.25. Laurentian Bank of Canada has a 12-month low of C$24.37 and a 12-month high of C$31.74.

Laurentian Bank of Canada Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Thursday, May 1st were issued a $0.47 dividend. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $1.88 annualized dividend and a dividend yield of 6.29%. Laurentian Bank of Canada’s payout ratio is -1,499.45%.

About Laurentian Bank of Canada

Laurentian Bank of Canada provides personal banking, business banking and real estate and commercial financing to its personal, business, and institutional customers across Canada and the United States. The company reports three operating segments: personal, business services, and capital markets. The personal segment offers financial services to retail clients.