Laurentian Bank of Canada (TSE:LB) Receives Consensus Recommendation of “Reduce” from Brokerages

Shares of Laurentian Bank of Canada (TSE:LB) have earned an average recommendation of “Reduce” from the fourteen ratings firms that are presently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is C$28.31.

LB has been the topic of several research reports. CIBC cut their price objective on shares of Laurentian Bank of Canada from C$33.00 to C$30.00 and set a “neutral” rating on the stock in a research report on Monday, June 3rd. Jefferies Financial Group lowered their price objective on shares of Laurentian Bank of Canada from C$28.00 to C$26.00 and set a “hold” rating on the stock in a research note on Thursday, June 6th. Royal Bank of Canada lowered their price objective on shares of Laurentian Bank of Canada from C$26.00 to C$25.00 and set an “underperform” rating on the stock in a research note on Monday, June 3rd. Raymond James decreased their price target on shares of Laurentian Bank of Canada from C$27.00 to C$26.00 and set a “market perform” rating on the stock in a research note on Tuesday, June 4th. Finally, National Bankshares decreased their price target on shares of Laurentian Bank of Canada from C$27.00 to C$26.00 and set an “underperform” rating on the stock in a research note on Monday, June 3rd.

Laurentian Bank of Canada Trading Up 1.3 %

LB opened at C$26.51 on Friday. The stock has a market capitalization of C$1.16 billion, a P/E ratio of 7.47, a P/E/G ratio of 0.76 and a beta of 1.28. Laurentian Bank of Canada has a 12 month low of C$24.45 and a 12 month high of C$48.23. The firm’s fifty day simple moving average is C$26.29 and its 200 day simple moving average is C$26.74.

Laurentian Bank of Canada (TSE:LB) last posted its quarterly earnings data on Friday, May 31st. The company reported C$0.90 EPS for the quarter, beating the consensus estimate of C$0.84 by C$0.06. The business had revenue of C$252.59 million for the quarter, compared to analysts’ expectations of C$253.47 million. Laurentian Bank of Canada had a net margin of 17.33% and a return on equity of 5.84%. On average, equities research analysts predict that Laurentian Bank of Canada will post 3.7793103 EPS for the current fiscal year.

Laurentian Bank of Canada Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Thursday, August 1st will be issued a dividend of $0.47 per share. The ex-dividend date of this dividend is Tuesday, July 2nd. This represents a $1.88 annualized dividend and a dividend yield of 7.09%. Laurentian Bank of Canada’s dividend payout ratio is presently 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.