Laurentian Bank of Canada (TSE:LB) Receives C$28.70 Consensus PT from Brokerages

Laurentian Bank of Canada (TSE:LB) has been assigned an average recommendation of “Reduce” from the fourteen research firms that are covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, ten have given a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is C$28.70.

Several brokerages have weighed in on LB. CIBC lifted their target price on Laurentian Bank of Canada from C$32.00 to C$33.00 and gave the company a “neutral” rating in a research note on Wednesday, February 14th. Jefferies Financial Group reduced their price target on Laurentian Bank of Canada from C$25.00 to C$24.00 and set a “hold” rating for the company in a report on Friday, March 1st. National Bankshares reduced their price target on Laurentian Bank of Canada from C$28.00 to C$27.00 and set an “underperform” rating for the company in a report on Friday, March 1st. Royal Bank of Canada reduced their price target on Laurentian Bank of Canada from C$30.00 to C$26.00 and set an “underperform” rating for the company in a report on Friday, March 1st. Finally, Cormark reduced their price target on Laurentian Bank of Canada from C$28.00 to C$26.00 in a report on Friday, March 1st.

Laurentian Bank of Canada Stock Up 0.7 %

TSE:LB opened at C$25.94 on Tuesday. The stock’s 50 day moving average price is C$27.19 and its 200 day moving average price is C$26.68. The company has a market capitalization of C$1.13 billion, a PE ratio of 7.31, a P/E/G ratio of 0.76 and a beta of 1.27. Laurentian Bank of Canada has a 52-week low of C$24.92 and a 52-week high of C$48.23.

Laurentian Bank of Canada (TSE:LB) last announced its earnings results on Thursday, February 29th. The company reported C$0.91 earnings per share for the quarter, missing the consensus estimate of C$0.93 by C($0.02). Laurentian Bank of Canada had a net margin of 17.33% and a return on equity of 5.84%. The company had revenue of C$258.34 million during the quarter, compared to analysts’ expectations of C$257.80 million. As a group, sell-side analysts anticipate that Laurentian Bank of Canada will post 3.8072464 EPS for the current fiscal year.

Laurentian Bank of Canada Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, May 1st will be issued a dividend of $0.47 per share. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $1.88 annualized dividend and a yield of 7.25%. Laurentian Bank of Canada’s dividend payout ratio is presently 52.96%.

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.