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 rating of "Reduce" from the fourteen brokerages that are currently covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is C$28.31.

LB has been the topic of several research analyst reports. Jefferies Financial Group decreased 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 report on Thursday, June 6th. Royal Bank of Canada decreased their price target 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. CIBC lowered 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. Desjardins cut their target price on shares of Laurentian Bank of Canada from C$26.00 to C$25.00 and set a "sell" rating for the company in a research report on Tuesday, June 4th. Finally, Raymond James reduced their target price on 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.

Laurentian Bank of Canada Price Performance

Shares of TSE:LB traded up C$0.28 during trading on Friday, hitting C$26.55. 318,839 shares of the company were exchanged, compared to its average volume of 189,761. The company has a market cap of C$1.16 billion, a PE ratio of 7.48, a P/E/G ratio of 0.76 and a beta of 1.28. Laurentian Bank of Canada has a 52-week low of C$24.45 and a 52-week high of C$48.23. The stock has a 50 day moving average of C$26.27 and a 200 day moving average of C$26.74.

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, topping analysts' consensus estimates of C$0.84 by C$0.06. Laurentian Bank of Canada had a net margin of 17.33% and a return on equity of 5.84%. The firm had revenue of C$252.59 million for the quarter, compared to the consensus estimate of C$253.47 million. Sell-side analysts forecast that Laurentian Bank of Canada will post 3.7793103 EPS for the current fiscal year.

Laurentian Bank of Canada Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Thursday, August 1st will be issued a $0.47 dividend. The ex-dividend date of this dividend is Tuesday, July 2nd. This represents a $1.88 dividend on an annualized basis and a yield of 7.08%. Laurentian Bank of Canada's dividend payout ratio (DPR) is 52.96%.

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.