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 company offers notice, demand, and term deposits; commercial, residential mortgage, and personal loans; real estate, and equipment and inventory financing; and credit life and disability insurance products. It also provides investment securities services; research, market analysis, and advisory services; corporate underwriting services for debt and equity; and administrative, foreign exchange, and trustee services. The company sells its products through the bank's financial clinics, advisors, broker channels, and digital platforms. Laurentian Bank of Canada was founded in 1846 and is headquartered in Montréal, Canada.
Laurentian Bank of Canada Stock Up 0.7 %
TSE:LB opened at C$42.61 on Wednesday. The firm has a market cap of C$1.84 billion and a price-to-earnings ratio of 29.80. The business has a 50-day moving average price of C$40.56 and a 200-day moving average price of C$41.04. Laurentian Bank of Canada has a twelve month low of C$36.54 and a twelve month high of C$45.29.
Laurentian Bank of Canada (TSE:LB - Get Rating) last released its quarterly earnings data on Wednesday, June 1st. The company reported C$1.39 earnings per share for the quarter, topping analysts' consensus estimates of C$1.16 by C$0.23. The business had revenue of C$259.60 million during the quarter, compared to the consensus estimate of C$250.35 million. Research analysts expect that Laurentian Bank of Canada will post 5.3000003 EPS for the current fiscal year.
Laurentian Bank of Canada Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, August 1st. Investors of record on Monday, July 4th were paid a dividend of $0.45 per share. The ex-dividend date was Thursday, June 30th. This is a positive change from Laurentian Bank of Canada's previous quarterly dividend of $0.44. This represents a $1.80 dividend on an annualized basis and a yield of 4.22%. Laurentian Bank of Canada's dividend payout ratio is presently 117.48%.
Wall Street Analyst Weigh In
LB has been the topic of several analyst reports. Credit Suisse Group boosted their target price on Laurentian Bank of Canada to C$42.00 and gave the stock a "sell" rating in a report on Thursday, June 2nd. National Bankshares boosted their target price on Laurentian Bank of Canada from C$49.00 to C$53.00 and gave the stock a "sector perform" rating in a report on Thursday, June 2nd. Barclays decreased their price target on Laurentian Bank of Canada from C$46.00 to C$40.00 and set an "equal weight" rating for the company in a research note on Wednesday, May 11th. Keefe, Bruyette & Woods decreased their price target on Laurentian Bank of Canada from C$44.00 to C$43.00 in a research note on Monday, August 8th. Finally, CSFB boosted their price target on Laurentian Bank of Canada from C$39.00 to C$43.00 in a research note on Thursday, June 2nd. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Laurentian Bank of Canada currently has an average rating of "Hold" and an average target price of C$46.45.