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

Shares of Laurentian Bank of Canada (TSE:LB) have earned a consensus recommendation of “Reduce” from the eight ratings firms that are presently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a sell rating and five have issued a hold rating on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is C$28.00.

Several research analysts have issued reports on LB shares. Jefferies Financial Group raised their target price on Laurentian Bank of Canada from C$29.00 to C$30.00 and gave the stock a “hold” rating in a research report on Monday, December 9th. BMO Capital Markets dropped their price objective on shares of Laurentian Bank of Canada from C$31.00 to C$30.00 in a report on Monday, March 3rd. National Bankshares upped their price target on shares of Laurentian Bank of Canada from C$25.00 to C$27.00 and gave the company an “underperform” rating in a research note on Monday, December 9th. Scotiabank lowered their price target on Laurentian Bank of Canada from C$33.00 to C$28.00 and set a “sector perform” rating for the company in a research report on Thursday, February 20th. Finally, Raymond James reduced their price target on Laurentian Bank of Canada from C$29.00 to C$27.00 in a report on Monday, March 3rd.

Laurentian Bank of Canada Price Performance

Laurentian Bank of Canada stock opened at C$26.30 on Friday. Laurentian Bank of Canada has a one year low of C$24.45 and a one year high of C$31.74. The stock has a market capitalization of C$1.16 billion, a PE ratio of -209.76, a price-to-earnings-growth ratio of 0.76 and a beta of 1.25. The business’s fifty day moving average is C$28.00 and its 200 day moving average is C$27.73.

Laurentian Bank of Canada Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 15th. Shareholders of record on Saturday, March 15th will be given a dividend of $0.47 per share. The ex-dividend date is Friday, March 7th. This represents a $1.88 annualized dividend and a yield of 7.15%. Laurentian Bank of Canada’s dividend payout ratio (DPR) is presently -1,499.45%.

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.