Scotiabank Trims Laurentian Bank of Canada (LB) Target Price to C$59.00
Laurentian Bank of Canada (TSE:LB) had its target price reduced by Scotiabank from C$64.00 to C$59.00 in a research report released on Wednesday morning. Scotiabank currently has a sector perform rating on the stock.
Other equities research analysts have also recently issued research reports about the stock. National Bank Financial lifted their price objective on shares of Laurentian Bank of Canada from C$59.00 to C$60.00 and gave the company a sector perform rating in a research report on Wednesday, December 6th. Royal Bank of Canada reduced their price objective on shares of Laurentian Bank of Canada from C$60.00 to C$55.00 and set a sector perform rating on the stock in a research report on Wednesday, December 6th. BMO Capital Markets upgraded shares of Laurentian Bank of Canada from a market perform rating to an outperform rating and lifted their price objective for the company from C$57.00 to C$62.00 in a research report on Wednesday, December 6th. Canaccord Genuity cut shares of Laurentian Bank of Canada from a buy rating to a speculative buy rating and reduced their price objective for the company from C$67.00 to C$61.00 in a research report on Wednesday, December 6th. Finally, CIBC lifted their price objective on shares of Laurentian Bank of Canada from C$61.00 to C$66.00 in a research report on Monday, November 13th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Laurentian Bank of Canada currently has an average rating of Hold and an average target price of C$59.10.
Shares of Laurentian Bank of Canada (TSE LB) opened at C$53.38 on Wednesday. The stock has a market cap of $2,080.00, a P/E ratio of 9.90 and a beta of 0.48. Laurentian Bank of Canada has a 1 year low of C$51.57 and a 1 year high of C$62.90.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Tuesday, January 2nd will be given a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 4.72%. The ex-dividend date is Friday, December 29th. This is a boost from Laurentian Bank of Canada’s previous quarterly dividend of $0.62. Laurentian Bank of Canada’s payout ratio is currently 45.64%.
About Laurentian Bank of Canada
Laurentian Bank of Canada is a Canada-based Chartered bank. The Bank and its subsidiaries provide banking services to individuals, and small and medium-sized enterprises, as well as to independent advisors across Canada. It also operates as a full-service brokerage firm. The Bank’s loan portfolio consists of personal loans, residential mortgage loans, commercial mortgage loans and commercial loans, including acceptances and finance lease receivables.
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