Laurentian Bank of Canada (TSE:LB) Given Average Recommendation of “Reduce” by Analysts

Shares of Laurentian Bank of Canada (TSE:LB) have been given an average recommendation of “Reduce” by the fourteen research firms that are currently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is C$28.70.

LB has been the subject of a number of research reports. Cormark reduced their price target on shares of Laurentian Bank of Canada from C$28.00 to C$26.00 in a report on Friday, March 1st. Desjardins cut shares of Laurentian Bank of Canada from a “hold” rating to a “sell” rating and reduced their price objective for the company from C$27.00 to C$26.00 in a report on Wednesday, February 7th. Jefferies Financial Group reduced their price objective on shares of Laurentian Bank of Canada from C$25.00 to C$24.00 and set a “hold” rating for the company in a report on Friday, March 1st. Scotiabank reduced their price objective on shares of Laurentian Bank of Canada from C$28.00 to C$26.00 and set a “sector perform” rating for the company in a report on Wednesday, December 20th. Finally, BMO Capital Markets cut their price target on shares of Laurentian Bank of Canada from C$43.00 to C$33.00 and set a “market perform” rating on the stock in a report on Friday, December 8th.

Laurentian Bank of Canada Stock Down 1.7 %

Shares of TSE LB opened at C$28.02 on Friday. Laurentian Bank of Canada has a twelve month low of C$24.92 and a twelve month high of C$48.23. The firm has a fifty day simple moving average of C$27.17 and a 200 day simple moving average of C$27.27. The company has a market capitalization of C$1.23 billion, a PE ratio of 7.89, a P/E/G ratio of 0.76 and a beta of 1.27.

Laurentian Bank of Canada (TSE:LB) last announced its earnings results on Thursday, February 29th. The company reported C$0.91 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.93 by C($0.02). Laurentian Bank of Canada had a return on equity of 5.84% and a net margin of 17.33%. The firm had revenue of C$258.34 million for the quarter, compared to the consensus estimate of C$257.80 million. As a group, equities analysts expect that Laurentian Bank of Canada will post 3.8429752 earnings per share for the current fiscal year.

Laurentian Bank of Canada Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors 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 annualized dividend and a dividend yield of 6.71%. Laurentian Bank of Canada’s payout ratio is 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.