Laurentian Bank of Canada (TSE:LB) Hits New 52-Week High – Should You Buy?

Shares of Laurentian Bank of Canada (TSE:LB) reached a new 52-week high during trading on Monday . The stock traded as high as C$40.34 and last traded at C$40.30, with a volume of 22027 shares trading hands. The stock had previously closed at C$40.25.

Analysts Set New Price Targets

Several equities research analysts have weighed in on LB shares. CIBC downgraded Laurentian Bank of Canada from a “neutral” rating to a “tender” rating and increased their price target for the stock from C$35.00 to C$40.50 in a research report on Monday, December 8th. BMO Capital Markets raised their target price on Laurentian Bank of Canada from C$31.00 to C$40.50 in a report on Monday, December 8th. National Bankshares decreased their price target on Laurentian Bank of Canada from C$27.00 to C$26.00 and set an “underperform” rating for the company in a report on Tuesday, September 2nd. Royal Bank Of Canada upgraded Laurentian Bank of Canada from a “strong sell” rating to a “hold” rating and upped their price objective for the stock from C$25.00 to C$40.00 in a research report on Monday, December 8th. Finally, Scotiabank set a C$33.00 price objective on shares of Laurentian Bank of Canada and gave the stock a “sector perform” rating in a research note on Tuesday, November 25th. Two equities research analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Strong Sell” and a consensus price target of C$35.19.

Laurentian Bank of Canada Price Performance

The company has a market capitalization of C$1.80 billion, a price-to-earnings ratio of 14.19, a price-to-earnings-growth ratio of 0.76 and a beta of 1.44. The firm has a fifty day simple moving average of C$35.65 and a 200 day simple moving average of C$32.91.

Laurentian Bank of Canada (TSE:LB) last announced its earnings results on Friday, December 5th. The company reported C$0.73 earnings per share (EPS) for the quarter. Laurentian Bank of Canada had a negative return on equity of 0.20% and a negative net margin of 0.30%.The firm had revenue of C$244.71 million for the quarter. Research analysts predict that Laurentian Bank of Canada will post 3.8414986 EPS for the current year.

Laurentian Bank of Canada Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Saturday, November 1st. Stockholders of record on Saturday, November 1st were given a $0.47 dividend. The ex-dividend date was Wednesday, October 1st. This represents a $1.88 annualized dividend and a dividend yield of 4.7%. Laurentian Bank of Canada’s dividend payout ratio (DPR) is 66.20%.

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. The business services segment provides financial services, commercial banking, real estate financing, and equipment and inventory financing to business clients.