Laurentian Bank of Canada (TSE:LB) Receives Average Rating of "Reduce" from Brokerages

Shares of Laurentian Bank of Canada (TSE:LB - Get Free Report) have earned a consensus recommendation of "Reduce" from the eight research firms that are presently covering the firm, Marketbeat reports. Three analysts have rated the stock with a sell recommendation and five have assigned a hold recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is C$29.57.

A number of analysts have recently issued reports on LB shares. BMO Capital Markets dropped their price objective on shares of Laurentian Bank of Canada from C$31.00 to C$30.00 in a report on Monday, March 3rd. Scotiabank lifted their price objective 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, June 3rd. Raymond James Financial lifted their price objective 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, June 3rd. National Bankshares lifted their price objective 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, June 3rd. Finally, Veritas raised shares of Laurentian Bank of Canada to a "strong sell" rating in a report on Monday, June 2nd.

Laurentian Bank of Canada Stock Down 0.2%

Shares of LB stock traded down C$0.05 on Friday, reaching C$30.24. The company's stock had a trading volume of 155,494 shares, compared to its average volume of 198,543. Laurentian Bank of Canada has a 12-month low of C$24.37 and a 12-month high of C$31.74. The company has a market capitalization of C$1.33 billion, a P/E ratio of -241.19, a PEG ratio of 0.76 and a beta of 1.25. The stock's 50 day simple moving average is C$28.11 and its 200-day simple moving average is C$28.02.

Laurentian Bank of Canada Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Thursday, May 1st were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 6.22%. The ex-dividend date of this dividend was Tuesday, April 1st. Laurentian Bank of Canada's payout ratio is currently -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.