Laurentian Bank of Canada (TSE:LB) Shares Up 18.2% – Still a Buy?

Laurentian Bank of Canada (TSE:LB)’s stock price was up 18.2% during trading on Tuesday . The company traded as high as C$40.00 and last traded at C$39.92. Approximately 606,474 shares changed hands during mid-day trading, an increase of 193% from the average daily volume of 206,895 shares. The stock had previously closed at C$33.76.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on LB. Jefferies Financial Group raised their price objective on shares of Laurentian Bank of Canada from C$29.00 to C$31.00 in a research report on Wednesday, August 13th. Scotiabank set a C$33.00 price target on shares of Laurentian Bank of Canada and gave the company a “sector perform” rating in a report on Tuesday, November 25th. CIBC upped their price objective on shares of Laurentian Bank of Canada from C$33.00 to C$35.00 and gave the stock a “neutral” rating in a report on Wednesday, August 20th. Raymond James Financial raised their target price on Laurentian Bank of Canada from C$28.00 to C$30.00 and gave the company a “market perform” rating in a report on Tuesday, September 2nd. Finally, National Bankshares decreased their price target on Laurentian Bank of Canada from C$27.00 to C$26.00 and set an “underperform” rating for the company in a research note on Tuesday, September 2nd. Four investment analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, Laurentian Bank of Canada presently has a consensus rating of “Reduce” and a consensus target price of C$30.71.

Laurentian Bank of Canada Trading Up 18.2%

The stock has a market cap of C$1.77 billion, a P/E ratio of 13.08, a P/E/G ratio of 0.76 and a beta of 1.47. The firm’s fifty day moving average is C$32.81 and its 200 day moving average is C$31.45.

Laurentian Bank of Canada (TSE:LB) last issued its quarterly earnings results on Friday, August 29th. The company reported C$0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.72 by C$0.01. Laurentian Bank of Canada had a negative return on equity of 0.20% and a negative net margin of 0.30%.During the same period in the prior year, the company earned $0.88 EPS. Research analysts forecast that Laurentian Bank of Canada will post 3.8414986 earnings per share for the current fiscal year.

Laurentian Bank of Canada Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Saturday, November 1st. Shareholders of record on Saturday, November 1st were given a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend was Wednesday, October 1st. Laurentian Bank of Canada’s payout ratio is currently 61.64%.

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.