Laurentian Bank of Canada (TSE:LB) Given Average Recommendation of “Reduce” by Analysts

Shares of Laurentian Bank of Canada (TSE:LB) have earned a consensus recommendation of “Reduce” from the eleven ratings firms that are covering the company, MarketBeat reports. Three research analysts have rated the stock with a sell recommendation and eight have assigned a hold recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is C$27.01.

A number of analysts have issued reports on LB shares. Cibc World Mkts raised Laurentian Bank of Canada to a “hold” rating in a research note on Wednesday, August 21st. Royal Bank of Canada reduced their price target on shares of Laurentian Bank of Canada from C$26.00 to C$25.00 and set an “underperform” rating on the stock in a research report on Monday, June 3rd. National Bankshares lowered their price objective on shares of Laurentian Bank of Canada from C$27.00 to C$26.00 and set an “underperform” rating for the company in a research report on Monday, June 3rd. Raymond James boosted their target price on shares of Laurentian Bank of Canada from C$26.00 to C$27.00 in a report on Wednesday, September 4th. Finally, CIBC lowered their price target on shares of Laurentian Bank of Canada from C$30.00 to C$28.00 and set a “neutral” rating for the company in a report on Tuesday, August 20th.

Laurentian Bank of Canada Stock Performance

Shares of TSE:LB opened at C$27.95 on Friday. The firm has a market cap of C$1.23 billion, a price-to-earnings ratio of -45.08, a P/E/G ratio of 0.76 and a beta of 1.24. The firm has a fifty day moving average price of C$26.34 and a 200 day moving average price of C$26.57. Laurentian Bank of Canada has a fifty-two week low of C$24.45 and a fifty-two week high of C$31.77.

Laurentian Bank of Canada Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Tuesday, October 1st will be paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 6.73%. The ex-dividend date of this dividend is Tuesday, October 1st. Laurentian Bank of Canada’s dividend payout ratio is currently -303.23%.

About Laurentian Bank of Canada

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.