Laurentian Bank of Canada (TSE:LB) Cut to “Tender” at CIBC

CIBC lowered shares of Laurentian Bank of Canada (TSE:LB) from a neutral rating to a tender rating in a research note issued to investors on Monday morning,BayStreet.CA reports. CIBC currently has C$40.50 price target on the stock, up from their prior price target of C$35.00.

Several other equities research analysts have also recently commented on LB. Royal Bank Of Canada upgraded shares of Laurentian Bank of Canada from a “strong sell” rating to a “hold” rating and lifted their price target for the stock from C$25.00 to C$40.00 in a research report on Monday. National Bankshares reduced their price objective on shares of Laurentian Bank of Canada from C$27.00 to C$26.00 and set an “underperform” rating on the stock in a research note on Tuesday, September 2nd. Jefferies Financial Group lifted their target price on shares of Laurentian Bank of Canada from C$29.00 to C$31.00 in a report on Wednesday, August 13th. Scotiabank set a C$33.00 target price on shares of Laurentian Bank of Canada and gave the company a “sector perform” rating in a research report on Tuesday, November 25th. Finally, Desjardins increased their price target 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. Two investment analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Strong Sell” and a consensus target price of C$35.19.

Laurentian Bank of Canada Stock Up 0.2%

Shares of LB opened at C$39.95 on Monday. The stock’s fifty day simple moving average is C$33.79 and its 200-day simple moving average is C$32.01. The firm has a market capitalization of C$1.77 billion, a PE ratio of 13.10, a price-to-earnings-growth ratio of 0.76 and a beta of 1.44. Laurentian Bank of Canada has a 12-month low of C$24.37 and a 12-month high of C$40.01.

Laurentian Bank of Canada (TSE:LB) last announced its quarterly earnings data on Friday, December 5th. The company reported C$0.73 EPS for the quarter. The firm had revenue of C$244.71 million during the quarter. Laurentian Bank of Canada had a negative return on equity of 0.20% and a negative net margin of 0.30%. Analysts anticipate that Laurentian Bank of Canada will post 3.8414986 EPS for the current year.

Laurentian Bank of Canada Dividend Announcement

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

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.