Laurentian Bank of Canada (TSE:LB) Issues Earnings Results

Laurentian Bank of Canada (TSE:LB) released its quarterly earnings results on Friday. The company reported C$0.73 earnings per share (EPS) for the quarter, FiscalAI reports. The firm had revenue of C$244.71 million during the quarter. Laurentian Bank of Canada had a negative net margin of 0.30% and a negative return on equity of 0.20%.

Laurentian Bank of Canada Stock Performance

Shares of TSE:LB opened at C$39.90 on Friday. Laurentian Bank of Canada has a 52-week low of C$24.37 and a 52-week high of C$40.01. The business’s 50 day simple moving average is C$33.23 and its two-hundred day simple moving average is C$31.65. The firm has a market cap of C$1.77 billion, a P/E ratio of 13.08, a PEG ratio of 0.76 and a beta of 1.44.

Laurentian Bank of Canada Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. CIBC increased 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 research report on Wednesday, August 20th. Jefferies Financial Group upped their price target on shares of Laurentian Bank of Canada from C$29.00 to C$31.00 in a research report on Wednesday, August 13th. National Bankshares lowered their price objective on Laurentian Bank of Canada from C$27.00 to C$26.00 and set an “underperform” rating for the company in a research report on Tuesday, September 2nd. Desjardins boosted their price objective on Laurentian Bank of Canada from C$29.00 to C$30.00 and gave the company a “sell” rating in a research note on Wednesday, August 13th. Finally, Raymond James Financial raised their target price on Laurentian Bank of Canada from C$30.00 to C$40.50 in a research note on Wednesday. Four analysts have rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of C$32.21.

Laurentian Bank of Canada Company Profile

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.