Laurentian Bank of Canada (TSE:LB) has earned an average rating of “Hold” from the ten research firms that are currently covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is C$45.80.
A number of brokerages have weighed in on LB. Canaccord Genuity lowered their price objective on Laurentian Bank of Canada from C$44.00 to C$40.00 in a research note on Thursday, November 22nd. Royal Bank of Canada lowered their price objective on Laurentian Bank of Canada from C$56.00 to C$51.00 and set a “sector perform” rating for the company in a research note on Thursday, December 6th. National Bank Financial reduced their target price on Laurentian Bank of Canada from C$45.00 to C$41.00 and set a “sector perform” rating on the stock in a report on Thursday, December 6th. BMO Capital Markets reduced their target price on Laurentian Bank of Canada from C$50.00 to C$45.00 and set a “market perform” rating on the stock in a report on Thursday, December 6th. Finally, TD Securities reduced their target price on Laurentian Bank of Canada from C$52.00 to C$51.00 and set a “buy” rating on the stock in a report on Thursday, December 6th.
Shares of LB stock traded down C$0.78 during trading hours on Wednesday, reaching C$43.01. The company had a trading volume of 260,623 shares, compared to its average volume of 341,072. Laurentian Bank of Canada has a twelve month low of C$36.21 and a twelve month high of C$53.62. The firm has a market cap of $1.84 billion and a P/E ratio of 8.43.
The company also recently announced a quarterly dividend, which was paid on Friday, February 1st. Shareholders of record on Friday, February 1st were issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 6.05%. The ex-dividend date of this dividend was Monday, December 31st. This is an increase from Laurentian Bank of Canada’s previous quarterly dividend of $0.64. Laurentian Bank of Canada’s dividend payout ratio (DPR) is currently 49.80%.
In other news, Director Jonathan I. Wener bought 2,200 shares of Laurentian Bank of Canada stock in a transaction on Monday, December 10th. The shares were bought at an average price of C$38.66 per share, with a total value of C$85,052.00.
Laurentian Bank of Canada Company Profile
Laurentian Bank of Canada, together with its subsidiaries, provides banking services to individuals, small and medium-sized enterprises, and independent advisors in Canada and the United States. It operates through four segments: Retail Services, Business Services, B2B Bank, and Capital Markets. The company offers transactional products and current accounts, term deposits, and investment accounts; personal line of credit, personal loans, student loans, and registered retirement savings plans; financing for agriculture, real estate, and commercial industries, as well as small and medium-sized enterprises; mortgage solutions, such as variable-rate mortgage, fixed-rate mortgage, equity line of credit, mortgage insurance, and retirement line of credit; and credit and business cards, as well as equipment finance solutions.
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