Laurentian Bank of Canada (TSE:LB) Sets New 52-Week High – Time to Buy?

Shares of Laurentian Bank of Canada (TSE:LB) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$40.49 and last traded at C$40.49, with a volume of 297483 shares trading hands. The stock had previously closed at C$40.23.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Raymond James Financial lowered Laurentian Bank of Canada from a “market perform” rating to an “underperform” rating in a report on Monday, December 8th. BMO Capital Markets boosted their price target on Laurentian Bank of Canada from C$31.00 to C$40.50 in a report on Monday, December 8th. 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. Canadian Imperial Bank of Commerce cut shares of Laurentian Bank of Canada from a “neutral” rating to a “tender” rating and raised their price objective for the stock from C$35.00 to C$40.50 in a research note on Monday, December 8th. Finally, Desjardins cut their target price on shares of Laurentian Bank of Canada from C$50.00 to C$40.00 and set a “tender” rating for the company in a report on Monday, February 9th. Two investment analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Strong Sell” and an average price target of C$36.44.

Laurentian Bank of Canada Stock Performance

The firm has a market capitalization of C$1.79 billion, a PE ratio of 26.73, a price-to-earnings-growth ratio of 0.76 and a beta of 1.35. The firm’s 50 day moving average price is C$40.14 and its 200-day moving average price is C$37.26.

Laurentian Bank of Canada (TSE:LB) last announced its quarterly earnings results on Friday, February 27th. The company reported C$0.65 earnings per share for the quarter. The firm had revenue of C$251.56 million during the quarter. Laurentian Bank of Canada had a return on equity of 2.86% and a net margin of 3.72%. On average, equities research analysts expect that Laurentian Bank of Canada will post 3.8414986 earnings per share for the current fiscal year.

Laurentian Bank of Canada Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 1st. Stockholders of record on Friday, May 1st will be given a $0.47 dividend. The ex-dividend date is Wednesday, April 1st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 4.7%. Laurentian Bank of Canada’s payout ratio is 125.33%.

Laurentian Bank of Canada Company Profile

Founded in Montreal in 1846, Laurentian Bank is committed to serving its customers and fostering deep relationships with specialized groups. Laurentian Bank runs operations across Canada – primarily in Québec and Ontario – as well as in the United States and competes where it sees market opportunity and has an edge, while harnessing the power of partnerships and collaboration.