Brokers Offer Predictions for Laurentian Bank of Canada’s Q3 2024 Earnings (TSE:LB)

Laurentian Bank of Canada (TSE:LB) – Research analysts at Raymond James increased their Q3 2024 EPS estimates for shares of Laurentian Bank of Canada in a research note issued on Monday, June 3rd. Raymond James analyst S. Boland now expects that the company will post earnings per share of $0.77 for the quarter, up from their previous forecast of $0.76. Raymond James currently has a “Market Perform” rating and a $26.00 target price on the stock. The consensus estimate for Laurentian Bank of Canada’s current full-year earnings is $3.78 per share. Raymond James also issued estimates for Laurentian Bank of Canada’s Q4 2024 earnings at $1.02 EPS, FY2024 earnings at $3.59 EPS, Q1 2025 earnings at $0.80 EPS, Q2 2025 earnings at $0.99 EPS, Q3 2025 earnings at $0.97 EPS, Q4 2025 earnings at $1.17 EPS and FY2025 earnings at $3.93 EPS.

Other analysts also recently issued research reports about the stock. CIBC reduced their price objective on shares of Laurentian Bank of Canada from C$33.00 to C$30.00 and set a “neutral” rating for the company in a research report on Monday, June 3rd. Royal Bank of Canada cut their target price on Laurentian Bank of Canada from C$26.00 to C$25.00 and set an “underperform” rating on the stock in a report on Monday, June 3rd. Cormark cut their target price on Laurentian Bank of Canada from C$28.00 to C$26.00 in a report on Friday, March 1st. Desjardins dropped their price objective on Laurentian Bank of Canada from C$26.00 to C$25.00 and set a “sell” rating on the stock in a research note on Tuesday. Finally, Jefferies Financial Group dropped their price objective on Laurentian Bank of Canada from C$28.00 to C$26.00 and set a “hold” rating on the stock in a research note on Thursday. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of C$28.31.

Laurentian Bank of Canada Stock Down 0.6 %

Shares of LB stock opened at C$24.99 on Thursday. The company has a market cap of C$1.09 billion, a price-to-earnings ratio of 7.04, a price-to-earnings-growth ratio of 0.76 and a beta of 1.28. Laurentian Bank of Canada has a 52 week low of C$24.81 and a 52 week high of C$48.23. The firm has a 50 day moving average of C$26.53 and a 200-day moving average of C$26.72.

Laurentian Bank of Canada Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Tuesday, July 2nd will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 7.52%. The ex-dividend date is Tuesday, July 2nd. Laurentian Bank of Canada’s dividend payout ratio (DPR) is currently 52.96%.

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.