Laurentian Bank of Canada (TSE:LB) Sets New 1-Year High on Analyst Upgrade

Laurentian Bank of Canada (TSE:LB)’s stock price reached a new 52-week high on Monday after Scotiabank raised their price target on the stock from C$26.00 to C$30.00. The stock traded as high as C$29.40 and last traded at C$29.26, with a volume of 127744 shares trading hands. The stock had previously closed at C$28.81.

Several other equities research analysts have also recently commented on the company. BMO Capital Markets boosted their target price on Laurentian Bank of Canada from C$27.00 to C$28.00 in a research note on Monday, November 18th. Desjardins boosted their target price on Laurentian Bank of Canada from C$25.00 to C$26.00 and gave the company a “sell” rating in a research note on Tuesday, August 6th. Raymond James boosted their target price on Laurentian Bank of Canada from C$26.00 to C$27.00 in a research note on Wednesday, September 4th. CIBC lowered their price target on Laurentian Bank of Canada from C$30.00 to C$28.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 20th. Finally, Cibc World Mkts raised Laurentian Bank of Canada to a “hold” rating in a research report on Wednesday, August 21st. Three equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of C$26.80.

Laurentian Bank of Canada Stock Performance

The business has a fifty day simple moving average of C$27.04 and a 200 day simple moving average of C$26.56. The stock has a market capitalization of C$1.29 billion, a price-to-earnings ratio of -47.23, a price-to-earnings-growth ratio of 0.76 and a beta of 1.25.

Laurentian Bank of Canada (TSE:LB) last issued its quarterly earnings data on Friday, August 30th. The company reported C$0.88 EPS for the quarter, beating analysts’ consensus estimates of C$0.85 by C$0.03. The firm had revenue of C$256.50 million for the quarter, compared to analyst estimates of C$257.90 million. Laurentian Bank of Canada had a negative return on equity of 0.55% and a negative net margin of 1.64%. On average, sell-side analysts forecast that Laurentian Bank of Canada will post 3.8414986 earnings per share for the current fiscal year.

Laurentian Bank of Canada Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, November 1st were given a dividend of $0.47 per share. The ex-dividend date was Tuesday, October 1st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 6.42%. Laurentian Bank of Canada’s payout ratio is -303.23%.

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.