Laurentian Bank of Canada (TSE:LB) Given Average Recommendation of "Reduce" by Brokerages

Shares of Laurentian Bank of Canada (TSE:LB - Get Free Report) have received a consensus recommendation of "Reduce" from the eight research firms that are currently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell recommendation and five have given a hold recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is C$29.57.

A number of equities research analysts recently issued reports on LB shares. Jefferies Financial Group dropped their price target on shares of Laurentian Bank of Canada from C$29.00 to C$27.00 in a research note on Monday, April 21st. National Bankshares upped their target price on Laurentian Bank of Canada from C$25.00 to C$28.00 and gave the company an "underperform" rating in a report on Tuesday, June 3rd. Scotiabank raised their target price on Laurentian Bank of Canada from C$28.00 to C$32.00 and gave the stock a "sector perform" rating in a research note on Tuesday, June 3rd. Desjardins boosted their price target on shares of Laurentian Bank of Canada from C$27.00 to C$29.00 and gave the company a "sell" rating in a research report on Tuesday, June 3rd. Finally, CIBC raised their price objective on shares of Laurentian Bank of Canada from C$28.00 to C$33.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 3rd.

Laurentian Bank of Canada Price Performance

Shares of TSE:LB opened at C$30.01 on Friday. The business's 50-day moving average is C$27.86 and its 200 day moving average is C$28.01. Laurentian Bank of Canada has a 1 year low of C$24.37 and a 1 year high of C$31.74. The firm has a market capitalization of C$1.32 billion, a P/E ratio of -239.35, a P/E/G ratio of 0.76 and a beta of 1.25.

Laurentian Bank of Canada Dividend Announcement

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

About Laurentian Bank of Canada

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.

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