Laurentian Bank of Canada (TSE:LB) Receives C$43.10 Consensus Price Target from Brokerages

Laurentian Bank of Canada (TSE:LB) has been given a consensus recommendation of “Hold” by the ten ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation and five have issued a hold recommendation on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is C$43.10.

A number of equities research analysts have weighed in on LB shares. National Bank Financial lowered their price target on Toromont Industries from C$70.00 to C$65.00 and set a “sector perform” rating on the stock in a research report on Friday, May 31st. CIBC raised their price target on Lightspeed POS from C$26.00 to C$27.00 in a research report on Friday, May 31st. Canaccord Genuity restated a “hold” rating and set a GBX 365 ($4.77) price target on shares of Crest Nicholson in a research report on Wednesday, May 15th. Barclays restated a “hold” rating on shares of Bank of Montreal in a research report on Tuesday, June 11th. Finally, CSFB set a C$81.00 price target on Toronto-Dominion Bank and gave the company an “outperform” rating in a research report on Thursday, May 16th.

TSE LB traded down C$0.03 during trading hours on Friday, reaching C$45.19. 118,800 shares of the stock traded hands, compared to its average volume of 295,316. The firm has a 50 day moving average price of C$44.50. Laurentian Bank of Canada has a 1 year low of C$36.21 and a 1 year high of C$48.41. The firm has a market cap of $1.91 billion and a P/E ratio of 10.79.

Laurentian Bank of Canada (TSE:LB) last released its quarterly earnings results on Thursday, May 30th. The company reported C$1.08 earnings per share for the quarter, beating the Zacks’ consensus estimate of C$1.06 by C$0.02. The firm had revenue of C$239.88 million for the quarter, compared to analysts’ expectations of C$250.40 million. As a group, analysts anticipate that Laurentian Bank of Canada will post 4.9200001 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Tuesday, July 2nd will be issued a $0.66 dividend. The ex-dividend date is Friday, June 28th. This represents a $2.64 annualized dividend and a dividend yield of 5.84%. This is an increase from Laurentian Bank of Canada’s previous quarterly dividend of $0.65. Laurentian Bank of Canada’s payout ratio is currently 61.59%.

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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Analyst Recommendations for Laurentian Bank of Canada (TSE:LB)

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