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

Shares of Laurentian Bank of Canada (TSE:LB) have been given a consensus rating of “Reduce” by the eight research firms that are currently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a sell recommendation and five have assigned a hold recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is C$28.67.

A number of equities analysts have recently commented on the stock. CIBC lifted their target price on shares of Laurentian Bank of Canada from C$28.00 to C$31.00 in a report on Tuesday, November 26th. National Bankshares boosted their target price 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. Raymond James lifted their price target on shares of Laurentian Bank of Canada from C$27.00 to C$29.00 and gave the company a “market perform” rating in a research report on Monday, December 9th. Jefferies Financial Group upped their price target on shares of Laurentian Bank of Canada from C$29.00 to C$30.00 and gave the company a “hold” rating in a report on Monday, December 9th. Finally, BMO Capital Markets lifted their target price on shares of Laurentian Bank of Canada from C$28.00 to C$31.00 in a research note on Monday, December 9th.

Laurentian Bank of Canada Stock Up 0.5 %

LB stock opened at C$28.87 on Friday. The business has a 50 day moving average price of C$28.21 and a 200 day moving average price of C$27.01. The stock has a market cap of C$1.27 billion, a price-to-earnings ratio of -46.56, a PEG ratio of 0.76 and a beta of 1.25. Laurentian Bank of Canada has a fifty-two week low of C$24.45 and a fifty-two week high of C$31.74.

Laurentian Bank of Canada Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, February 1st. Shareholders of record on Friday, January 3rd will be issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 6.51%. Laurentian Bank of Canada’s dividend payout ratio 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.