Laurentian Bank of Canada (TSE:LB) Hits New 1-Year High - What's Next?

Key Points

• Laurentian Bank of Canada shares reached a new 52-week high at C$34.10, with the last recorded price at C$34.02 after a trading volume of 98,898 shares.
• The bank recently reported quarterly earnings of C$0.73 per share, slightly exceeding analysts’ expectations, although this was down from C$0.88 per share during the same period last year.
• Laurentian Bank announced a quarterly dividend of $0.47, offering a 5.6% yield, with a payout ratio of 61.64% for investors of record on October 1st.

Laurentian Bank of Canada (TSE:LB - Get Free Report) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as C$34.10 and last traded at C$34.02, with a volume of 98898 shares. The stock had previously closed at C$33.31.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. CIBC lifted their price target on shares of Laurentian Bank of Canada from C$33.00 to C$35.00 and gave the company a "neutral" rating in a research report on Wednesday, August 20th. Veritas upgraded shares of Laurentian Bank of Canada to a "strong sell" rating in a research note on Monday, June 2nd. Scotiabank upped their target price on shares of Laurentian Bank of Canada from C$28.00 to C$32.00 and gave the company a "sector perform" rating in a research report on Tuesday, June 3rd. National Bankshares lowered 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 note on Tuesday, September 2nd. Finally, Jefferies Financial Group boosted their price objective on Laurentian Bank of Canada from C$29.00 to C$31.00 in a research report on Wednesday, August 13th. Four equities research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat.com, Laurentian Bank of Canada has an average rating of "Reduce" and an average target price of C$30.57.

Laurentian Bank of Canada Stock Up 0.5%

The stock has a market capitalization of C$1.48 billion, a P/E ratio of 10.97, a PEG ratio of 0.76 and a beta of 1.54. The company has a fifty day moving average price of C$31.14 and a 200-day moving average price of C$29.12.

Laurentian Bank of Canada (TSE:LB - Get Free Report) last announced its quarterly earnings results on Friday, August 29th. The company reported C$0.73 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of C$0.72 by C$0.01. Laurentian Bank of Canada had a negative return on equity of 0.20% and a negative net margin of 0.30%.During the same period last year, the business earned $0.88 earnings per share. As a group, research analysts expect that Laurentian Bank of Canada will post 3.8414986 earnings per share for the current fiscal year.

Laurentian Bank of Canada Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, November 1st. Investors 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 5.6%. Laurentian Bank of Canada's payout ratio is 61.64%.

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.

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