Laurentian Bank of Canada (LB) Announces Quarterly Dividend of C$0.60
Laurentian Bank of Canada (TSE:LB) announced a quarterly dividend on Thursday, September 29th. Investors of record on Tuesday, November 1st will be paid a dividend of 0.60 per share on Tuesday, November 1st. This represents a $2.40 dividend on an annualized basis and a yield of 4.81%. The ex-dividend date of this dividend is Thursday, September 29th.
Shares of Laurentian Bank of Canada (TSE:LB) traded up 1.73% during mid-day trading on Wednesday, reaching $49.94. The company had a trading volume of 304,185 shares. The stock’s 50-day moving average price is $48.74 and its 200 day moving average price is $49.08. Laurentian Bank of Canada has a 1-year low of $42.42 and a 1-year high of $55.82. The company has a market capitalization of $1.52 billion and a PE ratio of 14.43.
A number of research firms have recently commented on LB. Canaccord Genuity reiterated a “buy” rating and issued a C$54.00 price objective on shares of Laurentian Bank of Canada in a report on Tuesday. Scotiabank downgraded Laurentian Bank of Canada from a “sector outperform” rating to a “sector perform” rating in a report on Friday, August 19th. National Bank Financial dropped their price objective on Laurentian Bank of Canada from C$53.00 to C$52.00 and set a “sector perform” rating on the stock in a report on Thursday, September 1st. Royal Bank Of Canada reiterated a “sector perform” rating and issued a C$52.00 price objective on shares of Laurentian Bank of Canada in a report on Thursday, July 21st. Finally, Barclays PLC dropped their price target on Laurentian Bank of Canada from C$49.00 to C$48.00 and set an “underweight” rating on the stock in a research note on Thursday, September 1st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of C$52.22.
About Laurentian Bank of Canada
Laurentian Bank of Canada is a Canada-based chartered bank. The Bank, through its subsidiaries, provides banking services to individuals, and small and medium-sized enterprises, as well as to independent advisors, and operates as a full-service brokerage firm. It operates through three business segments: Personal & Commercial, B2B Bank, and Laurentian Bank Securities & Capital Markets.
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