Laurentian Bank of Canada (TSE:LB) Receives Average Recommendation of “Reduce” from Analysts

Shares of Laurentian Bank of Canada (TSE:LB) have received an average recommendation of “Reduce” from the fourteen research firms that are presently covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, ten have given a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price target among analysts that have covered the stock in the last year is C$28.70.

LB has been the subject of a number of research reports. Jefferies Financial Group reduced their price objective on Laurentian Bank of Canada from C$25.00 to C$24.00 and set a “hold” rating for the company in a research report on Friday, March 1st. CIBC lifted their price objective on Laurentian Bank of Canada from C$32.00 to C$33.00 and gave the company a “neutral” rating in a research report on Wednesday, February 14th. Royal Bank of Canada reduced their price objective on Laurentian Bank of Canada from C$30.00 to C$26.00 and set an “underperform” rating for the company in a research report on Friday, March 1st. Scotiabank reduced their price objective on Laurentian Bank of Canada from C$28.00 to C$26.00 and set a “sector perform” rating for the company in a research report on Wednesday, December 20th. Finally, Raymond James reduced their price objective on Laurentian Bank of Canada from C$32.00 to C$27.00 and set a “market perform” rating for the company in a research report on Friday, March 1st.

Laurentian Bank of Canada Stock Down 1.0 %

Shares of Laurentian Bank of Canada stock opened at C$25.90 on Tuesday. The stock has a market cap of C$1.13 billion, a PE ratio of 7.30, a price-to-earnings-growth ratio of 0.76 and a beta of 1.27. The business has a fifty day simple moving average of C$27.25 and a 200-day simple moving average of C$26.77. Laurentian Bank of Canada has a 12 month low of C$24.92 and a 12 month high of C$48.23.

Laurentian Bank of Canada (TSE:LB) last issued its earnings results on Thursday, February 29th. The company reported C$0.91 EPS for the quarter, missing the consensus estimate of C$0.93 by C($0.02). The business had revenue of C$258.34 million during the quarter, compared to analyst estimates of C$257.80 million. Laurentian Bank of Canada had a return on equity of 5.84% and a net margin of 17.33%. Analysts expect that Laurentian Bank of Canada will post 3.8072464 EPS for the current fiscal year.

Laurentian Bank of Canada Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, May 1st will be paid a $0.47 dividend. The ex-dividend date is Thursday, March 28th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 7.26%. Laurentian Bank of Canada’s payout ratio is presently 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.