FY2023 EPS Estimates for Laurentian Bank of Canada Cut by Analyst (TSE:LB)

Laurentian Bank of Canada (TSE:LB) – Equities research analysts at Raymond James decreased their FY2023 earnings estimates for shares of Laurentian Bank of Canada in a research note issued on Thursday, August 31st. Raymond James analyst S. Boland now expects that the company will earn $4.75 per share for the year, down from their prior estimate of $4.80. Raymond James has a “Market Perform” rating and a $36.00 price target on the stock. The consensus estimate for Laurentian Bank of Canada’s current full-year earnings is $5.04 per share. Raymond James also issued estimates for Laurentian Bank of Canada’s Q4 2023 earnings at $1.22 EPS, Q1 2024 earnings at $1.11 EPS, Q2 2024 earnings at $1.27 EPS, Q3 2024 earnings at $1.26 EPS, Q4 2024 earnings at $1.37 EPS and FY2024 earnings at $5.00 EPS.

Laurentian Bank of Canada (TSE:LB) last released its quarterly earnings results on Thursday, June 1st. The company reported C$1.16 EPS for the quarter, beating the consensus estimate of C$1.14 by C$0.02. Laurentian Bank of Canada had a net margin of 21.97% and a return on equity of 7.69%. The business had revenue of C$257.17 million for the quarter, compared to analyst estimates of C$261.70 million.

Several other analysts also recently issued reports on the company. Veritas Investment Research restated a “buy” rating on shares of Laurentian Bank of Canada in a research report on Wednesday, July 12th. CSFB reduced their target price on shares of Laurentian Bank of Canada from C$41.00 to C$39.00 and set a “neutral” rating on the stock in a report on Friday. CIBC lowered their price target on shares of Laurentian Bank of Canada from C$60.00 to C$54.00 and set an “outperform” rating for the company in a report on Tuesday, August 22nd. Barclays reduced their price objective on shares of Laurentian Bank of Canada from C$44.00 to C$42.00 and set an “equal weight” rating on the stock in a research note on Friday. Finally, TD Securities decreased their target price on shares of Laurentian Bank of Canada from C$48.00 to C$45.00 and set a “buy” rating on the stock in a research report on Friday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of C$41.25.

Laurentian Bank of Canada Stock Performance

Shares of TSE:LB opened at C$36.29 on Monday. The business’s fifty day moving average price is C$38.74 and its two-hundred day moving average price is C$34.56. The stock has a market cap of C$1.58 billion, a PE ratio of 7.82, a price-to-earnings-growth ratio of 0.76 and a beta of 1.20. Laurentian Bank of Canada has a one year low of C$28.23 and a one year high of C$48.23.

Laurentian Bank of Canada Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Monday, October 2nd will be issued a $0.47 dividend. The ex-dividend date is Thursday, September 28th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 5.18%. Laurentian Bank of Canada’s dividend payout ratio (DPR) is presently 40.52%.

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.