Laurentian Bank of Canada (TSE:LB) Reaches New 1-Year High – Here’s What Happened

Laurentian Bank of Canada (TSE:LB)’s stock price reached a new 52-week high during trading on Friday . The company traded as high as C$34.13 and last traded at C$34.06, with a volume of 224008 shares traded. The stock had previously closed at C$33.50.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Desjardins lifted their price target on shares of Laurentian Bank of Canada from C$29.00 to C$30.00 and gave the stock a “sell” rating in a research note on Wednesday, August 13th. Jefferies Financial Group lifted their target price on Laurentian Bank of Canada from C$29.00 to C$31.00 in a research report on Wednesday, August 13th. Raymond James Financial upped their price target on Laurentian Bank of Canada from C$28.00 to C$30.00 and gave the stock a “market perform” rating in a research report on Tuesday, September 2nd. CIBC lifted their price objective on Laurentian Bank of Canada from C$33.00 to C$35.00 and gave the company a “neutral” rating in a research report on Wednesday, August 20th. Finally, Scotiabank set a C$33.00 target price on shares of Laurentian Bank of Canada and gave the stock a “sector perform” rating in a report on Tuesday. Four research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Laurentian Bank of Canada presently has a consensus rating of “Reduce” and an average target price of C$30.71.

Laurentian Bank of Canada Price Performance

The firm has a market cap of C$1.51 billion, a P/E ratio of 11.18, a price-to-earnings-growth ratio of 0.76 and a beta of 1.47. The company’s 50-day simple moving average is C$32.77 and its 200 day simple moving average is C$31.31.

Laurentian Bank of Canada (TSE:LB) last posted its earnings results on Friday, August 29th. The company reported C$0.73 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.72 by C$0.01. Laurentian Bank of Canada had a negative net margin of 0.30% and a negative return on equity of 0.20%. During the same period in the prior year, the firm posted $0.88 EPS. Analysts anticipate that Laurentian Bank of Canada will post 3.8414986 EPS for the current fiscal year.

Laurentian Bank of Canada Announces Dividend

The company also recently disclosed 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. This represents a $1.88 annualized dividend and a yield of 5.5%. The ex-dividend date of this dividend was Wednesday, October 1st. Laurentian Bank of Canada’s payout ratio is presently 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.