Brokerages Set Laurentian Bank of Canada (TSE:LB) Price Target at C$43.56

Laurentian Bank of Canada (TSE:LB) has received an average rating of “Hold” from the nine brokerages that are currently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell rating and six have issued a hold rating on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is C$43.56.

LB has been the subject of several research reports. Barclays reaffirmed an “equal weight” rating and set a C$46.00 price objective on shares of Laurentian Bank of Canada in a report on Friday, August 30th. CIBC raised Laurentian Bank of Canada from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from C$43.00 to C$49.00 in a report on Tuesday, August 13th.

Shares of LB traded up C$0.18 during mid-day trading on Monday, hitting C$45.82. The company’s stock had a trading volume of 167,311 shares, compared to its average volume of 254,566. The firm has a 50-day simple moving average of C$44.72 and a 200 day simple moving average of C$44.00. The firm has a market capitalization of $1.94 billion and a P/E ratio of 11.43. Laurentian Bank of Canada has a 1-year low of C$36.21 and a 1-year high of C$46.22.

Laurentian Bank of Canada (TSE:LB) last posted its quarterly earnings results on Thursday, August 29th. The company reported C$1.15 EPS for the quarter, meeting the consensus estimate of C$1.15. The business had revenue of C$244.65 million during the quarter, compared to analyst estimates of C$253.30 million. Sell-side analysts anticipate that Laurentian Bank of Canada will post 4.7489593 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Tuesday, October 1st will be given a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a yield of 5.76%. The ex-dividend date of this dividend is Monday, September 30th. Laurentian Bank of Canada’s payout ratio is 64.85%.

Laurentian Bank of Canada Company Profile

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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