Laurentian Bank of Canada (TSE:LB) to Issue $0.47 Quarterly Dividend

Laurentian Bank of Canada (TSE:LB) declared a quarterly dividend on Thursday, August 29th, Zacks reports. Stockholders of record on Tuesday, October 1st will be given a dividend of 0.47 per share on Friday, November 1st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 7.28%. The ex-dividend date of this dividend is Tuesday, October 1st.

Laurentian Bank of Canada Trading Down 4.3 %

LB opened at C$25.81 on Friday. The business has a 50 day moving average of C$26.30 and a 200-day moving average of C$26.59. Laurentian Bank of Canada has a 1-year low of C$24.45 and a 1-year high of C$39.35. The stock has a market capitalization of C$1.13 billion, a price-to-earnings ratio of -92.18, a P/E/G ratio of 0.76 and a beta of 1.25.

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 the consensus estimate of C$0.84 by C$0.06. Laurentian Bank of Canada had a negative net margin of 0.04% and a negative return on equity of 0.01%. The firm had revenue of C$252.59 million for the quarter, compared to analyst estimates of C$253.47 million. Equities analysts predict that Laurentian Bank of Canada will post 3.9419448 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. CIBC cut their price target on shares of Laurentian Bank of Canada from C$30.00 to C$28.00 and set a “neutral” rating for the company in a report on Tuesday, August 20th. National Bankshares reduced their target price on Laurentian Bank of Canada from C$27.00 to C$26.00 and set an “underperform” rating on the stock in a report on Monday, June 3rd. Cibc World Mkts upgraded Laurentian Bank of Canada to a “hold” rating in a research report on Wednesday, August 21st. Desjardins lifted their price objective on Laurentian Bank of Canada from C$25.00 to C$26.00 and gave the company a “sell” rating in a research report on Tuesday, August 6th. Finally, Raymond James reduced their price objective on Laurentian Bank of Canada from C$27.00 to C$26.00 and set a “market perform” rating on the stock in a research note on Tuesday, June 4th. Three investment analysts have rated the stock with a sell rating and eleven have issued a hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of C$28.24.

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.