Laurentian Bank of Canada (TSE:LB) Sets New 52-Week High – Here’s What Happened

Laurentian Bank of Canada (TSE:LB) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$40.49 and last traded at C$40.49, with a volume of 297483 shares traded. The stock had previously closed at C$40.23.

Analyst Ratings Changes

Several analysts recently commented on LB shares. Royal Bank Of Canada raised Laurentian Bank of Canada from a “strong sell” rating to a “hold” rating and boosted their price target for the company from C$25.00 to C$40.00 in a research note on Monday, December 8th. Raymond James Financial cut Laurentian Bank of Canada from a “market perform” rating to an “underperform” rating in a report on Monday, December 8th. BMO Capital Markets boosted their target price on shares of Laurentian Bank of Canada from C$31.00 to C$40.50 in a research note on Monday, December 8th. Canadian Imperial Bank of Commerce lowered shares of Laurentian Bank of Canada from a “neutral” rating to a “tender” rating and upped their target price for the stock from C$35.00 to C$40.50 in a report on Monday, December 8th. Finally, Desjardins dropped their target price on shares of Laurentian Bank of Canada from C$50.00 to C$40.00 and set a “tender” rating for the company in a research report on Monday, February 9th. Two investment analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Laurentian Bank of Canada presently has a consensus rating of “Strong Sell” and an average target price of C$36.44.

Laurentian Bank of Canada Stock Performance

The firm has a market capitalization of C$1.81 billion, a P/E ratio of 26.99, a price-to-earnings-growth ratio of 0.76 and a beta of 1.35. The stock has a 50-day moving average of C$40.12 and a 200 day moving average of C$37.18.

Laurentian Bank of Canada (TSE:LB) last released its quarterly earnings results on Friday, February 27th. The company reported C$0.65 earnings per share for the quarter. The firm had revenue of C$251.56 million during the quarter. Laurentian Bank of Canada had a return on equity of 2.86% and a net margin of 3.72%. On average, equities analysts predict that Laurentian Bank of Canada will post 3.8414986 EPS for the current year.

Laurentian Bank of Canada Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 1st. Investors of record on Friday, May 1st will be issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend is Wednesday, April 1st. Laurentian Bank of Canada’s payout ratio is currently 125.33%.

About Laurentian Bank of Canada

Founded in Montreal in 1846, Laurentian Bank is committed to serving its customers and fostering deep relationships with specialized groups. Laurentian Bank runs operations across Canada – primarily in Québec and Ontario – as well as in the United States and competes where it sees market opportunity and has an edge, while harnessing the power of partnerships and collaboration.