Analysts Set Laurentian Bank of Canada (TSE:LB) PT at C$27.42

Laurentian Bank of Canada (TSE:LB) has been assigned an average recommendation of “Reduce” from the eleven ratings firms that are covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a sell rating and eight have issued a hold rating on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is C$27.01.

A number of equities research analysts have recently weighed in on LB shares. Royal Bank of Canada dropped their price objective 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 report on Monday, June 3rd. Cibc World Mkts raised Laurentian Bank of Canada to a “hold” rating in a report on Wednesday, August 21st. Jefferies Financial Group decreased their target price on Laurentian Bank of Canada from C$28.00 to C$26.00 and set a “hold” rating for the company in a report on Thursday, June 6th. National Bankshares cut their price target on shares of Laurentian Bank of Canada from C$27.00 to C$26.00 and set an “underperform” rating on the stock in a report on Monday, June 3rd. Finally, Raymond James raised 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.

Laurentian Bank of Canada Trading Up 2.5 %

TSE:LB opened at C$27.95 on Friday. Laurentian Bank of Canada has a twelve month low of C$24.45 and a twelve month high of C$31.77. The company has a market cap of C$1.23 billion, a PE ratio of -45.08, a P/E/G ratio of 0.76 and a beta of 1.24. The company’s 50 day moving average is C$26.34 and its two-hundred day moving average is C$26.57.

Laurentian Bank of Canada Announces Dividend

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