Laurentian Bank of Canada (TSE:LB) Price Target Raised to C$30.00

Laurentian Bank of Canada (TSE:LB) had its price objective hoisted by Scotiabank from C$26.00 to C$30.00 in a research note published on Monday,BayStreet.CA reports.

Several other equities research analysts also recently issued reports on LB. Desjardins raised their price objective on shares of Laurentian Bank of Canada from C$25.00 to C$26.00 and gave the stock a “sell” rating in a research note on Tuesday, August 6th. Cibc World Mkts upgraded shares of Laurentian Bank of Canada to a “hold” rating in a research report on Wednesday, August 21st. Raymond James upped their price objective on shares of Laurentian Bank of Canada from C$26.00 to C$27.00 in a research report on Wednesday, September 4th. BMO Capital Markets lifted their target price on Laurentian Bank of Canada from C$27.00 to C$28.00 in a research report on Monday, November 18th. Finally, CIBC cut their price target on Laurentian Bank of Canada from C$30.00 to C$28.00 and set a “neutral” rating for the company in a report on Tuesday, August 20th. Three research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of C$27.10.

Laurentian Bank of Canada Price Performance

Laurentian Bank of Canada stock opened at C$29.39 on Monday. Laurentian Bank of Canada has a fifty-two week low of C$24.45 and a fifty-two week high of C$29.55. The firm has a fifty day moving average price of C$27.13 and a two-hundred day moving average price of C$26.61. The firm has a market cap of C$1.29 billion, a price-to-earnings ratio of -47.15, a P/E/G ratio of 0.76 and a beta of 1.25.

Laurentian Bank of Canada (TSE:LB) last posted its quarterly earnings data on Friday, August 30th. The company reported C$0.88 earnings per share for the quarter, topping the consensus estimate of C$0.85 by C$0.03. Laurentian Bank of Canada had a negative return on equity of 0.55% and a negative net margin of 1.64%. The business had revenue of C$256.50 million during the quarter, compared to analysts’ expectations of C$257.90 million. As a group, sell-side 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 business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, November 1st were paid a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 6.40%. The ex-dividend date was Tuesday, October 1st. Laurentian Bank of Canada’s dividend payout ratio is -303.23%.

About Laurentian Bank of Canada

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.