FY2024 EPS Estimates for Laurentian Bank of Canada Reduced by Cormark (TSE:LB)

Laurentian Bank of Canada (TSE:LB - Free Report) - Equities research analysts at Cormark dropped their FY2024 earnings per share estimates for shares of Laurentian Bank of Canada in a research note issued on Tuesday, August 20th. Cormark analyst L. Persaud now anticipates that the company will post earnings of $3.61 per share for the year, down from their prior forecast of $3.80. The consensus estimate for Laurentian Bank of Canada's current full-year earnings is $3.99 per share.

Several other research firms have also issued reports on LB. Royal Bank of Canada dropped their target price 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 report on Monday, June 3rd. Desjardins boosted their price target on shares of 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. CIBC dropped their target price on Laurentian Bank of Canada from C$30.00 to C$28.00 and set a "neutral" rating on the stock in a report on Tuesday. Cibc World Mkts raised shares of Laurentian Bank of Canada to a "hold" rating in a research report on Wednesday. Finally, National Bankshares reduced their price objective on Laurentian Bank of Canada from C$27.00 to C$26.00 and set an "underperform" rating for the company in a research note on Monday, June 3rd. Three equities research analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company. According to MarketBeat.com, Laurentian Bank of Canada presently has a consensus rating of "Hold" and a consensus target price of C$28.24.

Laurentian Bank of Canada Price Performance

Shares of Laurentian Bank of Canada stock traded down C$0.09 during midday trading on Thursday, reaching C$26.30. The company had a trading volume of 59,607 shares, compared to its average volume of 192,917. The stock has a fifty day moving average price of C$26.20 and a 200 day moving average price of C$26.57. Laurentian Bank of Canada has a fifty-two week low of C$24.45 and a fifty-two week high of C$39.37. The firm has a market cap of C$1.15 billion, a PE ratio of -94.11, a P/E/G ratio of 0.76 and a beta of 1.25.

Laurentian Bank of Canada (TSE:LB - Get Free Report) last announced its quarterly earnings results on Friday, May 31st. The company reported C$0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.84 by C$0.06. The firm had revenue of C$252.59 million during the quarter, compared to analysts' expectations of C$253.47 million. Laurentian Bank of Canada had a negative net margin of 0.04% and a negative return on equity of 0.01%.

Laurentian Bank of Canada Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Thursday, August 1st were issued a dividend of $0.47 per share. The ex-dividend date of this dividend was Tuesday, July 2nd. This represents a $1.88 dividend on an annualized basis and a yield of 7.15%. Laurentian Bank of Canada's dividend payout ratio (DPR) is -671.43%.

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.