BMO Capital Markets Cuts Laurentian Bank of Canada (TSE:LB) Price Target to C$30.00

Laurentian Bank of Canada (TSE:LB) had its price objective reduced by BMO Capital Markets from C$31.00 to C$30.00 in a research note released on Monday,BayStreet.CA reports.

A number of other research firms have also recently issued reports on LB. Scotiabank reduced their price objective on Laurentian Bank of Canada from C$33.00 to C$28.00 and set a “sector perform” rating for the company in a research report on Thursday, February 20th. Jefferies Financial Group boosted their price target on Laurentian Bank of Canada from C$29.00 to C$30.00 and gave the company a “hold” rating in a research note on Monday, December 9th. CIBC raised their price objective on shares of Laurentian Bank of Canada from C$28.00 to C$31.00 in a research 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. Finally, Raymond James dropped their price target on shares of Laurentian Bank of Canada from C$29.00 to C$27.00 in a research note on Monday. Three equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of C$28.00.

Laurentian Bank of Canada Price Performance

TSE:LB opened at C$26.80 on Monday. The stock has a market cap of C$1.18 billion, a PE ratio of -213.75, a price-to-earnings-growth 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. The stock’s 50-day moving average is C$28.21 and its two-hundred day moving average is C$27.71.

Laurentian Bank of Canada Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 15th. Stockholders of record on Saturday, March 15th will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 7.01%. The ex-dividend date is Friday, March 7th. Laurentian Bank of Canada’s payout ratio is -1,499.45%.

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.