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

Shares of Laurentian Bank of Canada (TSE:LB) have been assigned an average recommendation of “Reduce” from the eight research firms that are currently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation and five have issued a hold recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is C$29.57.

LB has been the subject of a number of research analyst reports. National Bankshares upped their price objective on shares of Laurentian Bank of Canada from C$25.00 to C$28.00 and gave the stock an “underperform” rating in a research report on Tuesday, June 3rd. Raymond James Financial upped their price target on shares of Laurentian Bank of Canada from C$27.00 to C$28.00 and gave the stock a “market perform” rating in a research report on Tuesday, June 3rd. CIBC lifted their price objective on Laurentian Bank of Canada from C$28.00 to C$33.00 and gave the stock a “neutral” rating in a report on Tuesday, June 3rd. Scotiabank boosted their price objective on Laurentian Bank of Canada from C$28.00 to C$32.00 and gave the stock a “sector perform” rating in a research note on Tuesday, June 3rd. Finally, Desjardins raised their target price on Laurentian Bank of Canada from C$27.00 to C$29.00 and gave the company a “sell” rating in a research report on Tuesday, June 3rd.

Laurentian Bank of Canada Stock Up 0.6%

LB stock opened at C$30.42 on Friday. The company’s 50-day simple moving average is C$28.20 and its 200-day simple moving average is C$28.04. Laurentian Bank of Canada has a 52-week low of C$24.37 and a 52-week high of C$31.74. The firm has a market cap of C$1.34 billion, a P/E ratio of -242.62, a PEG ratio of 0.76 and a beta of 1.25.

Laurentian Bank of Canada Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Thursday, May 1st were given a dividend of $0.47 per share. The ex-dividend date was Tuesday, April 1st. This represents a $1.88 annualized dividend and a dividend yield of 6.18%. Laurentian Bank of Canada’s dividend payout ratio is presently -1,499.45%.

Laurentian Bank of Canada Company Profile

Laurentian Bank of Canada provides personal banking, business banking and real estate and commercial financing to its personal, business, and institutional customers across Canada and the United States. The company reports three operating segments: personal, business services, and capital markets. The personal segment offers financial services to retail clients.