Laurentian Bank of Canada (TSE:LB) Given New C$28.00 Price Target at BMO Capital Markets

Laurentian Bank of Canada (TSE:LB) had its price target lifted by BMO Capital Markets from C$27.00 to C$28.00 in a research note released on Monday,BayStreet.CA reports.

LB has been the topic of a number of other reports. Raymond James increased their price target on shares of Laurentian Bank of Canada from C$26.00 to C$27.00 in a research report on Wednesday, September 4th. Desjardins lifted their price target on shares of Laurentian Bank of Canada from C$25.00 to C$26.00 and gave the stock a “sell” rating in a research report on Tuesday, August 6th. CIBC decreased 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. Finally, Cibc World Mkts raised Laurentian Bank of Canada to a “hold” rating in a research note on Wednesday, August 21st. Three analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of C$26.55.

Laurentian Bank of Canada Price Performance

Shares of TSE LB opened at C$28.32 on Monday. Laurentian Bank of Canada has a fifty-two week low of C$24.45 and a fifty-two week high of C$29.49. The firm has a market capitalization of C$1.24 billion, a P/E ratio of -45.68, a P/E/G ratio of 0.76 and a beta of 1.25. The company’s 50 day simple moving average is C$26.87 and its 200 day simple moving average is C$26.49.

Laurentian Bank of Canada (TSE:LB) last posted its quarterly earnings results on Friday, August 30th. The company reported C$0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.85 by C$0.03. The business had revenue of C$256.50 million for the quarter, compared to analyst estimates of C$257.90 million. Laurentian Bank of Canada had a negative return on equity of 0.55% and a negative net margin of 1.64%. Sell-side analysts expect that Laurentian Bank of Canada will post 3.8414986 EPS for the current fiscal year.

Laurentian Bank of Canada Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, November 1st were paid a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 6.64%. The ex-dividend date was Tuesday, October 1st. Laurentian Bank of Canada’s payout ratio is -303.23%.

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.