Analysts Set Laurentian Bank of Canada (TSE:LB) Price Target at C$28.67

Laurentian Bank of Canada (TSE:LB) has been assigned an average recommendation of “Reduce” from the eight brokerages that are presently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell rating and five have given a hold rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is C$28.67.

A number of research analysts have recently issued reports on the company. BMO Capital Markets boosted their price objective on Laurentian Bank of Canada from C$28.00 to C$31.00 in a research note on Monday, December 9th. National Bankshares raised their price objective on shares of Laurentian Bank of Canada from C$25.00 to C$27.00 and gave the stock an “underperform” rating in a research report on Monday, December 9th. Jefferies Financial Group boosted their target price on shares of Laurentian Bank of Canada from C$29.00 to C$30.00 and gave the company a “hold” rating in a research report on Monday, December 9th. Raymond James raised their price target on shares of Laurentian Bank of Canada from C$27.00 to C$29.00 and gave the stock a “market perform” rating in a report on Monday, December 9th. Finally, Scotiabank lifted their price target on shares of Laurentian Bank of Canada from C$30.00 to C$33.00 and gave the company a “sector perform” rating in a research note on Monday, December 9th.

Laurentian Bank of Canada Stock Down 0.4 %

Shares of TSE:LB opened at C$29.07 on Thursday. The business has a fifty day simple moving average of C$28.93 and a 200 day simple moving average of C$27.35. Laurentian Bank of Canada has a 12-month low of C$24.45 and a 12-month high of C$31.74. The firm has a market cap of C$1.28 billion, a P/E ratio of -46.89, a P/E/G ratio of 0.76 and a beta of 1.25.

Laurentian Bank of Canada Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, February 1st. Shareholders of record on Friday, January 3rd will be given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 6.47%. The ex-dividend date is Friday, January 3rd. Laurentian Bank of Canada’s dividend payout ratio is currently -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.