Laurentian Bank of Canada (TSE:LB) Receives Average Recommendation of "Reduce" from Analysts

Key Points

• The Laurentian Bank of Canada has received an average recommendation of "Reduce" from seven analysts, with three sell ratings and four hold ratings, reflecting cautious sentiment on the stock.
• The company's latest quarterly earnings reported earnings per share (EPS) of C$0.73, slightly beating estimates, despite a negative return on equity of 0.20% and a negative net margin of 0.30%.
• A quarterly dividend of $0.47 is set to be paid on November 1st, yielding approximately 5.7% annually, with a payout ratio of 61.64%.

Laurentian Bank of Canada (TSE:LB - Get Free Report) has been given a consensus rating of "Reduce" by the seven ratings firms that are presently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell rating and four have given a hold rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is C$30.57.

LB has been the topic of a number of analyst reports. 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, September 2nd. National Bankshares reduced their price target on Laurentian Bank of Canada from C$27.00 to C$26.00 and set an "underperform" rating on the stock in a research report on Tuesday, September 2nd. 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. Scotiabank increased their price target on 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. Finally, Veritas raised Laurentian Bank of Canada to a "strong sell" rating in a research report on Monday, June 2nd.

Laurentian Bank of Canada Trading Up 0.1%

LB opened at C$32.85 on Tuesday. The stock's 50-day moving average price is C$31.30 and its 200 day moving average price is C$29.32. Laurentian Bank of Canada has a 12-month low of C$24.37 and a 12-month high of C$34.10. The firm has a market cap of C$1.46 billion, a price-to-earnings ratio of 10.77, a PEG ratio of 0.76 and a beta of 1.54.

Laurentian Bank of Canada (TSE:LB - Get Free Report) last posted 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 company posted $0.88 EPS. On average, research analysts forecast that Laurentian Bank of Canada will post 3.8414986 earnings per share for the current year.

Laurentian Bank of Canada Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, November 1st. Stockholders of record on Wednesday, October 1st will be issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 5.7%. Laurentian Bank of Canada's payout ratio is currently 61.64%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.