Laurentian Bank of Canada (LB) Stock Rating Upgraded by TD Securities
Laurentian Bank of Canada (TSE:LB) was upgraded by equities researchers at TD Securities from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday.
A number of other brokerages have also recently commented on LB. Canaccord Genuity reaffirmed a “buy” rating and issued a C$54.00 target price on shares of Laurentian Bank of Canada in a report on Tuesday, September 27th. National Bank Financial cut their target price on shares of Laurentian Bank of Canada from C$53.00 to C$52.00 and set a “sector perform” rating on the stock in a report on Thursday, September 1st. Scotiabank cut shares of Laurentian Bank of Canada from a “sector outperform” rating to a “sector perform” rating in a report on Friday, August 19th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a C$52.00 target price on shares of Laurentian Bank of Canada in a report on Thursday, July 21st. Finally, Barclays PLC cut their target price on shares of Laurentian Bank of Canada from C$49.00 to C$48.00 and set an “underweight” rating on the stock in a report on Thursday, September 1st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of C$52.22.
Laurentian Bank of Canada (TSE:LB) opened at 49.62 on Tuesday. The stock has a market capitalization of $1.51 billion and a P/E ratio of 14.33. Laurentian Bank of Canada has a 12-month low of $42.42 and a 12-month high of $55.82. The firm’s 50-day moving average is $48.86 and its 200 day moving average is $49.14.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Tuesday, November 1st will be paid a $0.60 dividend. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $2.40 annualized dividend and a yield of 4.84%.
About Laurentian Bank of Canada
Laurentian Bank of Canada is a Canada-based chartered bank. The Bank, through its subsidiaries, provides banking services to individuals, and small and medium-sized enterprises, as well as to independent advisors, and operates as a full-service brokerage firm. It operates through three business segments: Personal & Commercial, B2B Bank, and Laurentian Bank Securities & Capital Markets.
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