Laurentian Bank of Canada (TSE:LB) Given Consensus Rating of "Reduce" by Brokerages

Shares of Laurentian Bank of Canada (TSE:LB - Get Free Report) have earned an average rating of "Reduce" from the fourteen brokerages that are presently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and one has given a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is C$28.70.

LB has been the topic of several research analyst reports. Raymond James decreased their price target on Laurentian Bank of Canada from C$32.00 to C$27.00 and set a "market perform" rating on the stock in a research note on Friday, March 1st. Royal Bank of Canada lowered their target price on Laurentian Bank of Canada from C$30.00 to C$26.00 and set an "underperform" rating on the stock in a report on Friday, March 1st. CIBC lifted their price target on Laurentian Bank of Canada from C$32.00 to C$33.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 14th. Scotiabank decreased their price objective on shares of Laurentian Bank of Canada from C$28.00 to C$26.00 and set a "sector perform" rating on the stock in a research report on Wednesday, December 20th. Finally, Cormark dropped their target price on shares of Laurentian Bank of Canada from C$28.00 to C$26.00 in a report on Friday, March 1st.

Laurentian Bank of Canada Trading Down 1.6 %

Shares of Laurentian Bank of Canada stock traded down C$0.41 during trading hours on Tuesday, hitting C$25.49. 208,384 shares of the company were exchanged, compared to its average volume of 195,088. The business has a 50-day moving average of C$27.24 and a 200-day moving average of C$26.74. Laurentian Bank of Canada has a 1 year low of C$24.92 and a 1 year high of C$48.23. The stock has a market capitalization of C$1.11 billion, a price-to-earnings ratio of 7.18, a P/E/G ratio of 0.76 and a beta of 1.27.

Laurentian Bank of Canada (TSE:LB - Get Free Report) last posted its quarterly earnings results on Thursday, February 29th. The company reported C$0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.93 by C($0.02). The firm had revenue of C$258.34 million for the quarter, compared to analysts' expectations of C$257.80 million. Laurentian Bank of Canada had a return on equity of 5.84% and a net margin of 17.33%. As a group, research analysts anticipate that Laurentian Bank of Canada will post 3.8072464 earnings per share for the current fiscal year.

Laurentian Bank of Canada Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, May 1st will be issued a $0.47 dividend. The ex-dividend date is Thursday, March 28th. This represents a $1.88 annualized dividend and a yield of 7.38%. Laurentian Bank of Canada's payout ratio is 52.96%.

About Laurentian Bank of Canada

Laurentian Bank of Canada, together with its subsidiaries, provides various financial services to personal, business, and institutional customers in Canada and the United States. It operates through three segments: Personal Banking, Commercial Banking, and Capital Markets. The Personal Banking segment offers financial services, such as financial advisory services to financial intermediaries; and operates digital direct-to-customer platform to retail clients.