Laurentian Bank of Canada (TSE:LB) Reaches New 52-Week High – Still a Buy?

Shares of Laurentian Bank of Canada (TSE:LB) reached a new 52-week high during trading on Tuesday . The stock traded as high as C$40.00 and last traded at C$39.98, with a volume of 111641 shares trading hands. The stock had previously closed at C$39.97.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. CIBC cut shares of Laurentian Bank of Canada from a “neutral” rating to a “tender” rating and lifted their price objective for the stock from C$35.00 to C$40.50 in a research note on Monday, December 8th. BMO Capital Markets increased their price target on shares of Laurentian Bank of Canada from C$31.00 to C$40.50 in a report on Monday, December 8th. Raymond James Financial lowered Laurentian Bank of Canada from a “market perform” rating to an “underperform” rating in a research report on Monday, December 8th. National Bankshares decreased their price objective on Laurentian Bank of Canada from C$27.00 to C$26.00 and set an “underperform” rating on the stock in a research report on Tuesday, September 2nd. Finally, Royal Bank Of Canada raised Laurentian Bank of Canada from a “strong sell” rating to a “hold” rating and raised their price objective for the company from C$25.00 to C$40.00 in a research note on Monday, December 8th. Two research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, Laurentian Bank of Canada presently has an average rating of “Strong Sell” and an average target price of C$35.19.

Laurentian Bank of Canada Stock Down 0.1%

The company’s 50 day simple moving average is C$34.68 and its 200-day simple moving average is C$32.45. The firm has a market cap of C$1.78 billion, a P/E ratio of 14.07, a P/E/G ratio of 0.76 and a beta of 1.44.

Laurentian Bank of Canada (TSE:LB) last released its earnings results on Friday, December 5th. The company reported C$0.73 EPS for the quarter. Laurentian Bank of Canada had a negative return on equity of 0.20% and a negative net margin of 0.30%.The firm had revenue of C$244.71 million for the quarter. Equities research analysts predict that Laurentian Bank of Canada will post 3.8414986 EPS for the current year.

Laurentian Bank of Canada Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, November 1st. Shareholders of record on Saturday, November 1st were paid a $0.47 dividend. The ex-dividend date was Wednesday, October 1st. This represents a $1.88 dividend on an annualized basis and a yield of 4.7%. Laurentian Bank of Canada’s dividend payout ratio (DPR) is presently 66.20%.

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.