Laurentian Bank of Canada (TSE:LB) Given Consensus Recommendation of “Reduce” by Brokerages

Laurentian Bank of Canada (TSE:LB) has received an average rating of “Reduce” from the thirteen ratings firms that are covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell recommendation and ten have given a hold recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is C$28.31.

Several analysts recently weighed in on LB shares. Royal Bank of Canada decreased their price target on Laurentian Bank of Canada from C$26.00 to C$25.00 and set an “underperform” rating on the stock in a report on Monday, June 3rd. CIBC reduced their target price on shares of Laurentian Bank of Canada from C$33.00 to C$30.00 and set a “neutral” rating on the stock in a research note on Monday, June 3rd. Desjardins dropped their price target on shares of Laurentian Bank of Canada from C$26.00 to C$25.00 and set a “sell” rating for the company in a research note on Tuesday, June 4th. Raymond James reduced their price objective on shares of Laurentian Bank of Canada from C$27.00 to C$26.00 and set a “market perform” rating on the stock in a research report on Tuesday, June 4th. Finally, National Bankshares dropped their target price on Laurentian Bank of Canada from C$27.00 to C$26.00 and set an “underperform” rating for the company in a research report on Monday, June 3rd.

Laurentian Bank of Canada Trading Down 1.5 %

Shares of LB stock opened at C$26.74 on Thursday. The stock has a market capitalization of C$1.17 billion, a price-to-earnings ratio of 7.53, a price-to-earnings-growth ratio of 0.76 and a beta of 1.28. Laurentian Bank of Canada has a 12-month low of C$24.45 and a 12-month high of C$41.48. The stock’s 50-day moving average price is C$26.22 and its 200-day moving average price is C$26.67.

Laurentian Bank of Canada (TSE:LB) last posted its earnings results on Friday, May 31st. The company reported C$0.90 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.84 by C$0.06. The firm had revenue of C$252.59 million during the quarter, compared to analyst estimates of C$253.47 million. Laurentian Bank of Canada had a net margin of 17.33% and a return on equity of 5.84%. As a group, research analysts predict that Laurentian Bank of Canada will post 3.7793103 EPS for the current fiscal year.

Laurentian Bank of Canada Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Thursday, August 1st will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 7.03%. The ex-dividend date of this dividend is Tuesday, July 2nd. Laurentian Bank of Canada’s dividend payout ratio is currently 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.