Laurentian Bank of Canada (TSE:LB) Sets New 1-Year High - Should You Buy?

Key Points

• Shares of Laurentian Bank of Canada reached a new 52-week high of C$33.05 in mid-day trading, closing at C$32.95 with a trading volume of 460,047 shares.
• The bank's quarterly earnings report showed an EPS of C$0.73, which surpassed the consensus estimate of C$0.72, though it represented a decline from C$0.88 a year prior.
• A quarterly dividend of $0.47 per share will be paid on November 1st, which corresponds to an annualized dividend yield of 5.7%.

Laurentian Bank of Canada (TSE:LB - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$33.05 and last traded at C$32.95, with a volume of 460047 shares. The stock had previously closed at C$32.08.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on LB shares. Jefferies Financial Group raised their price target on shares of Laurentian Bank of Canada from C$29.00 to C$31.00 in a research note on Wednesday, August 13th. National Bankshares cut their price objective on shares of 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. CIBC boosted their target price on shares of Laurentian Bank of Canada from C$33.00 to C$35.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 20th. Veritas raised shares of Laurentian Bank of Canada to a "strong sell" rating in a report on Monday, June 2nd. Finally, Scotiabank upped their price objective 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 report on Tuesday, June 3rd. Four research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Reduce" and a consensus target price of C$30.57.

Laurentian Bank of Canada Trading Down 0.3%

The business has a 50-day moving average price of C$31.09 and a two-hundred day moving average price of C$29.09. The stock has a market capitalization of C$1.48 billion, a P/E ratio of 10.93, a P/E/G 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 EPS for the quarter, topping 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 quarter in the previous year, the company posted $0.88 earnings per share. On average, sell-side analysts forecast 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 declared a quarterly dividend, which will be paid on Saturday, November 1st. Shareholders of record on Wednesday, October 1st will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 5.6%. Laurentian Bank of Canada's payout ratio is currently 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.