Laurentian Bank of Canada (TSE:LB) Receives Consensus Recommendation of “Reduce” from Brokerages

Laurentian Bank of Canada (TSE:LB) has received a consensus recommendation of “Reduce” from the fourteen research firms that are currently covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is C$28.70.

Several research firms recently commented on LB. TD Securities cut Laurentian Bank of Canada from a “buy” rating to a “hold” rating and decreased their target price for the stock from C$30.00 to C$26.00 in a research note on Friday, December 8th. BMO Capital Markets decreased their target price on Laurentian Bank of Canada from C$43.00 to C$33.00 and set a “market perform” rating for the company in a research note on Friday, December 8th. Desjardins cut Laurentian Bank of Canada from a “hold” rating to a “sell” rating and reduced their price objective for the company from C$27.00 to C$26.00 in a research note on Wednesday, February 7th. Jefferies Financial Group reduced their price objective on Laurentian Bank of Canada from C$25.00 to C$24.00 and set a “hold” rating for the company in a research note on Friday, March 1st. Finally, Raymond James reduced their price target on shares of Laurentian Bank of Canada from C$32.00 to C$27.00 and set a “market perform” rating for the company in a research report on Friday, March 1st.

Laurentian Bank of Canada Price Performance

TSE LB opened at C$27.99 on Friday. The business has a 50 day simple moving average of C$27.10 and a 200 day simple moving average of C$27.25. Laurentian Bank of Canada has a one year low of C$24.92 and a one year high of C$48.23. The stock has a market capitalization of C$1.22 billion, a P/E ratio of 7.88, a P/E/G ratio of 0.76 and a beta of 1.27.

Laurentian Bank of Canada (TSE:LB) last released its earnings results on Thursday, February 29th. The company reported C$0.91 EPS for the quarter, missing the consensus estimate of C$0.93 by C($0.02). Laurentian Bank of Canada had a return on equity of 5.84% and a net margin of 17.33%. The business had revenue of C$258.34 million for the quarter, compared to analyst estimates of C$257.80 million. Equities analysts expect that Laurentian Bank of Canada will post 3.8429752 earnings per share for the current year.

Laurentian Bank of Canada Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 1st will be paid a dividend of $0.47 per share. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $1.88 dividend on an annualized basis and a yield of 6.72%. Laurentian Bank of Canada’s dividend payout ratio (DPR) is presently 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.