Laurentian Bank of Canada (TSE:LB) Receives Average Recommendation of "Reduce" from Brokerages

Shares of Laurentian Bank of Canada (TSE:LB - Get Free Report) have been assigned a consensus recommendation of "Reduce" from the eight research firms that are covering the company, MarketBeat reports. Three research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is C$28.00.

LB has been the topic of a number of research reports. Scotiabank dropped their price objective on shares of Laurentian Bank of Canada from C$33.00 to C$28.00 and set a "sector perform" rating on the stock in a report on Thursday, February 20th. Jefferies Financial Group raised their target price on Laurentian Bank of Canada from C$29.00 to C$30.00 and gave the stock a "hold" rating in a report on Monday, December 9th. Raymond James cut their price target on Laurentian Bank of Canada from C$29.00 to C$27.00 in a report on Monday, March 3rd. BMO Capital Markets decreased their price objective on Laurentian Bank of Canada from C$31.00 to C$30.00 in a research note on Monday, March 3rd. Finally, National Bankshares boosted their price objective on Laurentian Bank of Canada from C$25.00 to C$27.00 and gave the company an "underperform" rating in a research note on Monday, December 9th.

Laurentian Bank of Canada Stock Down 1.4 %

TSE:LB traded down C$0.37 on Tuesday, hitting C$26.48. The stock had a trading volume of 216,574 shares, compared to its average volume of 193,404. The business's 50-day simple moving average is C$27.42 and its two-hundred day simple moving average is C$27.78. The stock has a market cap of C$1.17 billion, a price-to-earnings ratio of -211.20, a price-to-earnings-growth ratio of 0.76 and a beta of 1.25. Laurentian Bank of Canada has a 52-week low of C$24.45 and a 52-week high of C$31.74.

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Laurentian Bank of Canada Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, May 1st will be paid a $0.47 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $1.88 annualized dividend and a yield of 7.10%. Laurentian Bank of Canada's payout ratio is -1,499.45%.

Laurentian Bank of Canada Company Profile

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.