Laurentian Bank of Canada (TSE:LB) Given New C$26.00 Price Target at Desjardins

Laurentian Bank of Canada (TSE:LB) had its price target increased by Desjardins from C$25.00 to C$26.00 in a research note released on Tuesday, BayStreet.CA reports. They currently have a sell rating on the stock.

A number of other brokerages also recently issued reports on LB. Jefferies Financial Group cut their price objective on shares of Laurentian Bank of Canada from C$28.00 to C$26.00 and set a hold rating for the company in a research report on Thursday, June 6th. Royal Bank of Canada lowered their price objective on Laurentian Bank of Canada from C$26.00 to C$25.00 and set an underperform rating on the stock in a research report on Monday, June 3rd. CIBC cut their price objective on Laurentian Bank of Canada from C$33.00 to C$30.00 and set a neutral rating for the company in a research note on Monday, June 3rd. Raymond James lowered their price target 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 report on Tuesday, June 4th. Finally, National Bankshares dropped their price target on shares of 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. Three equities research analysts have rated the stock with a sell rating and ten have given a hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Hold and an average target price of C$28.39.

Laurentian Bank of Canada Price Performance

TSE LB traded down C$0.05 during mid-day trading on Tuesday, reaching C$25.59. The stock had a trading volume of 112,843 shares, compared to its average volume of 196,878. The company has a fifty day moving average price of C$26.05 and a 200 day moving average price of C$26.61. Laurentian Bank of Canada has a 1 year low of C$24.45 and a 1 year high of C$40.57. The stock has a market cap of C$1.12 billion, a PE ratio of 7.21, a price-to-earnings-growth ratio of 0.76 and a beta of 1.28.

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

Laurentian Bank of Canada Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Thursday, August 1st were paid a $0.47 dividend. The ex-dividend date of this dividend was Tuesday, July 2nd. This represents a $1.88 dividend on an annualized basis and a yield of 7.35%. Laurentian Bank of Canada’s dividend payout ratio is currently 52.96%.

Laurentian Bank of Canada Company Profile

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.