Shares of Laurentian Bank of Canada (TSE:LB) have been assigned an average rating of “Hold” from the ten research firms that are currently covering the firm, MarketBeat reports. Four analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is C$45.80.
LB has been the topic of a number of recent research reports. Canaccord Genuity decreased their price objective on Laurentian Bank of Canada from C$44.00 to C$40.00 in a research report on Thursday, November 22nd. Royal Bank of Canada dropped their price objective on Laurentian Bank of Canada from C$56.00 to C$51.00 and set a “sector perform” rating on the stock in a research note on Thursday, December 6th. National Bank Financial dropped their target price on Laurentian Bank of Canada from C$45.00 to C$41.00 and set a “sector perform” rating on the stock in a research report on Thursday, December 6th. Barclays dropped their target price on Laurentian Bank of Canada from C$48.00 to C$46.00 in a research report on Thursday, December 6th. Finally, CIBC decreased their price objective on Laurentian Bank of Canada from C$47.00 to C$43.00 in a report on Thursday, December 6th.
Shares of LB stock traded down C$0.14 during mid-day trading on Wednesday, hitting C$43.41. The company’s stock had a trading volume of 143,515 shares, compared to its average volume of 332,185. Laurentian Bank of Canada has a 52-week low of C$36.21 and a 52-week high of C$53.62. The stock has a market capitalization of $1.82 billion and a P/E ratio of 8.51.
The firm also recently declared a quarterly dividend, which was paid on Friday, February 1st. Shareholders of record on Friday, February 1st were paid a $0.65 dividend. This is an increase from Laurentian Bank of Canada’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend was Monday, December 31st. This represents a $2.60 annualized dividend and a dividend yield of 5.99%. Laurentian Bank of Canada’s payout ratio is 49.80%.
In related news, Director Jonathan I. Wener purchased 2,200 shares of Laurentian Bank of Canada stock in a transaction that occurred on Monday, December 10th. The stock was purchased at an average cost of C$38.66 per share, with a total value of C$85,052.00.
About Laurentian Bank of Canada
Laurentian Bank of Canada, together with its subsidiaries, provides banking services to individuals, small and medium-sized enterprises, and independent advisors in Canada and the United States. It operates through four segments: Retail Services, Business Services, B2B Bank, and Capital Markets. The company offers transactional products and current accounts, term deposits, and investment accounts; personal line of credit, personal loans, student loans, and registered retirement savings plans; financing for agriculture, real estate, and commercial industries, as well as small and medium-sized enterprises; mortgage solutions, such as variable-rate mortgage, fixed-rate mortgage, equity line of credit, mortgage insurance, and retirement line of credit; and credit and business cards, as well as equipment finance solutions.
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