Laurentian Bank of Canada (TSE:LB) Given Average Rating of "Reduce" by Brokerages

Shares of Laurentian Bank of Canada (TSE:LB - Get Free Report) have been given an average recommendation of "Reduce" by the eight brokerages that are covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a sell recommendation and five have given a hold recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is C$28.67.

A number of research firms recently issued reports on LB. Raymond James boosted their target price on shares of Laurentian Bank of Canada from C$27.00 to C$29.00 and gave the company a "market perform" rating in a research report on Monday, December 9th. BMO Capital Markets upped their target price on Laurentian Bank of Canada from C$28.00 to C$31.00 in a research note on Monday, December 9th. Scotiabank lifted their price target on Laurentian Bank of Canada from C$30.00 to C$33.00 and gave the company a "sector perform" rating in a research report on Monday, December 9th. CIBC upped their price objective on Laurentian Bank of Canada from C$28.00 to C$31.00 in a research report on Tuesday, November 26th. Finally, National Bankshares lifted their target price on shares of Laurentian Bank of Canada from C$25.00 to C$27.00 and gave the company an "underperform" rating in a report on Monday, December 9th.

Laurentian Bank of Canada Price Performance

Laurentian Bank of Canada stock traded up C$0.18 during trading hours on Friday, hitting C$28.83. 169,943 shares of the stock traded hands, compared to its average volume of 240,666. The firm's 50 day moving average price is C$28.04 and its 200-day moving average price is C$26.92. The stock has a market capitalization of C$1.27 billion, a price-to-earnings ratio of -46.50, a P/E/G ratio of 0.76 and a beta of 1.25. Laurentian Bank of Canada has a 1 year low of C$24.45 and a 1 year high of C$31.74.

Laurentian Bank of Canada Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, February 1st. Stockholders of record on Friday, January 3rd will be issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 6.52%. Laurentian Bank of Canada's dividend payout ratio is currently -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.