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

Key Points

• Laurentian Bank of Canada reported quarterly earnings of C$0.73 per share, exceeding expectations by C$0.01, despite having a negative return on equity of 0.20% and net margin of 0.30%.
• The bank declared a quarterly dividend of $0.47 per share, representing a 5.9% yield, with overall annualized dividends amounting to $1.88.
• Analyst ratings are mixed, with recent target price adjustments ranging from C$27.00 to C$32.00, indicating a generally cautious outlook for the stock.

Laurentian Bank of Canada (TSE:LB - Get Free Report) released its earnings results on Friday. The company reported C$0.73 EPS for the quarter, topping the consensus estimate of C$0.72 by C$0.01, RTT News reports. Laurentian Bank of Canada had a negative return on equity of 0.20% and a negative net margin of 0.30%.During the same quarter in the previous year, the company earned $0.88 earnings per share.

Laurentian Bank of Canada Trading Up 0.8%

Shares of TSE LB traded up C$0.24 during mid-day trading on Tuesday, hitting C$30.74. The company had a trading volume of 285,760 shares, compared to its average volume of 191,726. The company has a market capitalization of C$1.36 billion, a price-to-earnings ratio of 10.08, a P/E/G ratio of 0.76 and a beta of 1.65. Laurentian Bank of Canada has a 1 year low of C$24.37 and a 1 year high of C$31.74. The stock's 50-day moving average price is C$30.89 and its 200-day moving average price is C$28.79.

Laurentian Bank of Canada Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, November 1st. Stockholders of record on Wednesday, October 1st will be given a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 6.1%. Laurentian Bank of Canada's dividend payout ratio (DPR) is presently 61.64%.

Wall Street Analyst Weigh In

Several research firms recently commented on LB. Desjardins raised their target price on Laurentian Bank of Canada from C$29.00 to C$30.00 and gave the stock a "sell" rating in a research note on Wednesday, August 13th. Veritas upgraded Laurentian Bank of Canada to a "strong sell" rating in a report on Monday, June 2nd. Raymond James Financial increased their price target on Laurentian Bank of Canada from C$28.00 to C$30.00 and gave the company a "market perform" rating in a research report on Tuesday. 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 report on Tuesday. Finally, Jefferies Financial Group increased their price target on Laurentian Bank of Canada from C$29.00 to C$31.00 in a research report on Wednesday, August 13th. Four investment analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company has an average rating of "Reduce" and a consensus price target of C$30.57.

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.