Laurentian Bank of Canada (TSE:LB) Price Target Raised to C$33.00

Laurentian Bank of Canada (TSE:LB - Free Report) had its price target lifted by CIBC from C$28.00 to C$33.00 in a research report sent to investors on Tuesday,BayStreet.CA reports. They currently have a neutral rating on the stock.

A number of other brokerages also recently commented on LB. Jefferies Financial Group lowered their price target on shares of Laurentian Bank of Canada from C$29.00 to C$27.00 in a report on Monday, April 21st. Scotiabank lifted their price target on shares of Laurentian Bank of Canada from C$28.00 to C$32.00 and gave the stock a "sector perform" rating in a report on Tuesday. BMO Capital Markets lowered their price target on shares of Laurentian Bank of Canada from C$31.00 to C$30.00 in a report on Monday, March 3rd. Raymond James lifted their price target on shares of Laurentian Bank of Canada from C$27.00 to C$28.00 and gave the stock a "market perform" rating in a report on Tuesday. Finally, National Bankshares lifted their price target on shares of Laurentian Bank of Canada from C$25.00 to C$28.00 and gave the stock an "underperform" rating in a report on Tuesday. Two research analysts have rated the stock with a sell rating and five have issued a hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of C$29.57.

Laurentian Bank of Canada Price Performance

LB traded down C$0.12 during midday trading on Tuesday, reaching C$30.02. 163,543 shares of the company's stock were exchanged, compared to its average volume of 202,767. The stock has a market capitalization of C$1.32 billion, a PE ratio of -239.43, a P/E/G ratio of 0.76 and a beta of 1.25. The business's 50-day moving average price is C$27.26 and its 200 day moving average price is C$27.93. Laurentian Bank of Canada has a 1-year low of C$24.37 and a 1-year high of C$31.74.

Laurentian Bank of Canada Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Thursday, May 1st were issued a $0.47 dividend. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $1.88 dividend on an annualized basis and a yield of 6.26%. Laurentian Bank of Canada's payout ratio is -1,499.45%.

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.