Laurentian Bank of Canada (TSE:LB) Given Consensus Recommendation of “Reduce” by Brokerages

Shares of Laurentian Bank of Canada (TSE:LBGet Free Report) have received an average rating of “Reduce” from the fourteen brokerages that are presently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is C$29.01.

Several equities research analysts recently weighed in on LB shares. Royal Bank of Canada reduced their price target on shares of Laurentian Bank of Canada from C$30.00 to C$26.00 and set an “underperform” rating on the stock in a research report on Friday, March 1st. Raymond James cut their price objective on shares of Laurentian Bank of Canada from C$32.00 to C$27.00 and set a “market perform” rating on the stock in a research report on Friday, March 1st. Desjardins cut shares of Laurentian Bank of Canada from a “hold” rating to a “sell” rating and cut their price objective for the company from C$27.00 to C$26.00 in a research report on Wednesday, February 7th. CIBC boosted their price objective on shares of 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. Finally, Cormark cut their price objective on shares of Laurentian Bank of Canada from C$28.00 to C$26.00 in a research report on Friday, March 1st.

Read Our Latest Stock Analysis on LB

Laurentian Bank of Canada Stock Performance

Shares of LB opened at C$27.18 on Friday. The company’s fifty day moving average is C$27.01 and its 200 day moving average is C$26.68. Laurentian Bank of Canada has a fifty-two week low of C$24.92 and a fifty-two week high of C$48.23. The stock has a market capitalization of C$1.19 billion, a PE ratio of 7.66, a P/E/G ratio of 0.76 and a beta of 1.28.

Laurentian Bank of Canada (TSE:LBGet Free Report) last announced its quarterly earnings results on Thursday, February 29th. The company reported C$0.91 earnings per share for the quarter, missing the consensus estimate 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 business had revenue of C$258.34 million during the quarter, compared to the consensus estimate of C$257.80 million. As a group, research analysts forecast that Laurentian Bank of Canada will post 3.813986 earnings per share for the current year.

Laurentian Bank of Canada Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Wednesday, May 1st were given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 6.92%. The ex-dividend date was Thursday, March 28th. Laurentian Bank of Canada’s payout ratio is 52.96%.

Laurentian Bank of Canada Company Profile

(Get Free Report

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.

See Also

Analyst Recommendations for Laurentian Bank of Canada (TSE:LB)

Receive News & Ratings for Laurentian Bank of Canada Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Laurentian Bank of Canada and related companies with MarketBeat.com's FREE daily email newsletter.