Laurentian Bank of Canada (TSE:LB) Given New C$40.50 Price Target at Raymond James Financial

Laurentian Bank of Canada (TSE:LB) had its price objective boosted by Raymond James Financial from C$30.00 to C$40.50 in a report released on Wednesday,BayStreet.CA reports.

Several other equities analysts have also issued reports on the company. National Bankshares decreased their price target on Laurentian Bank of Canada from C$27.00 to C$26.00 and set an “underperform” rating on the stock in a research note on Tuesday, September 2nd. Scotiabank set a C$33.00 price objective on Laurentian Bank of Canada and gave the company a “sector perform” rating in a research note on Tuesday, November 25th. CIBC boosted their target price on Laurentian Bank of Canada from C$33.00 to C$35.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 20th. Desjardins raised their price target on shares of Laurentian Bank of Canada from C$29.00 to C$30.00 and gave the company a “sell” rating in a research note on Wednesday, August 13th. Finally, Jefferies Financial Group upped their price objective on shares of Laurentian Bank of Canada from C$29.00 to C$31.00 in a research report on Wednesday, August 13th. Four investment analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus price target of C$32.21.

Laurentian Bank of Canada Stock Down 0.3%

LB stock opened at C$39.87 on Wednesday. The company’s 50-day moving average price is C$33.09 and its two-hundred day moving average price is C$31.60. The firm has a market cap of C$1.77 billion, a P/E ratio of 13.07, a P/E/G ratio of 0.76 and a beta of 1.47. Laurentian Bank of Canada has a 12 month low of C$24.37 and a 12 month high of C$40.01.

Laurentian Bank of Canada Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Saturday, November 1st. Shareholders of record on Saturday, November 1st were paid a dividend of $0.47 per share. The ex-dividend date of this dividend was Wednesday, October 1st. This represents a $1.88 annualized dividend and a yield of 4.7%. Laurentian Bank of Canada’s payout ratio is 61.64%.

Laurentian Bank of Canada Company Profile

Laurentian Bank of Canada provides personal banking, business banking and real estate and commercial financing to its personal, business, and institutional customers across Canada and the United States. The company reports three operating segments: personal, business services, and capital markets. The personal segment offers financial services to retail clients.