Laurentian Bank of Canada (LB.TO) to Issue Quarterly Dividend of $0.40 (TSE:LB)

Laurentian Bank of Canada (LB.TO) (TSE:LB) declared a quarterly dividend on Thursday, December 31st, TickerTech reports. Investors of record on Monday, February 1st will be paid a dividend of 0.40 per share on Monday, February 1st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.10%. The ex-dividend date is Thursday, December 31st.

TSE:LB traded up C$0.06 during trading hours on Wednesday, hitting C$31.40. 230,697 shares of the company traded hands, compared to its average volume of 309,610. The firm’s 50-day simple moving average is C$31.65 and its 200-day simple moving average is C$28.91. Laurentian Bank of Canada has a one year low of C$25.74 and a one year high of C$45.00. The company has a market cap of C$1.36 billion and a PE ratio of 13.26.

Laurentian Bank of Canada (LB.TO) (TSE:LB) last announced its earnings results on Friday, December 4th. The company reported C$0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.75 by C$0.16. The business had revenue of C$243.54 million for the quarter, compared to analysts’ expectations of C$241.00 million. On average, analysts forecast that Laurentian Bank of Canada will post 3.2989569 earnings per share for the current fiscal year.

In other Laurentian Bank of Canada (LB.TO) news, Senior Officer St├ęphane Therrien sold 3,633 shares of the company’s stock in a transaction on Thursday, December 17th. The stock was sold at an average price of C$32.04, for a total transaction of C$116,401.32. Following the transaction, the insider now directly owns 285 shares in the company, valued at C$9,131.40.

Several brokerages recently weighed in on LB. CIBC lifted their price objective on Laurentian Bank of Canada (LB.TO) from C$30.00 to C$32.00 in a report on Monday, December 7th. CSFB lifted their price objective on Laurentian Bank of Canada (LB.TO) from C$28.00 to C$30.00 in a report on Monday, December 7th. National Bank Financial lifted their price objective on Laurentian Bank of Canada (LB.TO) from C$26.00 to C$28.00 and gave the stock an “underperform” rating in a report on Monday, December 14th. BMO Capital Markets lifted their price objective on Laurentian Bank of Canada (LB.TO) from C$30.00 to C$32.00 in a report on Monday, December 7th. Finally, TD Securities lifted their price objective on Laurentian Bank of Canada (LB.TO) from C$32.00 to C$35.00 and gave the stock a “hold” rating in a report on Monday, December 7th. Three research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of C$31.06.

Laurentian Bank of Canada (LB.TO) Company Profile

Laurentian Bank of Canada, together with its subsidiaries, provides various banking services to individuals, small and medium-sized enterprises, and institutional customers in Canada and the United States. It operates through Personal, Business Services, and Institutional segments. The company offers notice, demand, and term deposit products; investment accounts; personal loans, such as investment and student loans, home-equity line of credit, credit cards, personal line of credit, and other consumer loans; guaranteed investment certificates; agriculture loan; real estate renting and leasing services; equipment and inventory financing; personal and commercial loans; and residential mortgage loans, as well as mortgage insurance.

Further Reading: How can investors benefit from after-hours trading?

Dividend History for Laurentian Bank of Canada (LB.TO) (TSE:LB)

Receive News & Ratings for Laurentian Bank of Canada (LB.TO) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Laurentian Bank of Canada (LB.TO) and related companies with MarketBeat.com's FREE daily email newsletter.