Analysts Set Laurentian Bank of Canada (TSE:LB) Target Price at C$28.00

Laurentian Bank of Canada (TSE:LB) has received a consensus rating of “Reduce” from the eight ratings firms that are presently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a sell rating and five have issued a hold rating on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is C$28.00.

LB has been the subject of a number of analyst reports. Scotiabank decreased 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 note on Thursday, February 20th. Jefferies Financial Group lifted their price objective on shares of Laurentian Bank of Canada from C$29.00 to C$30.00 and gave the stock a “hold” rating in a research note on Monday, December 9th. Raymond James reduced their price objective on Laurentian Bank of Canada from C$29.00 to C$27.00 in a research note on Monday, March 3rd. BMO Capital Markets decreased their target price on shares of Laurentian Bank of Canada from C$31.00 to C$30.00 in a research report on Monday, March 3rd. Finally, National Bankshares lifted their price objective on Laurentian Bank of Canada from C$25.00 to C$27.00 and gave the company an “underperform” rating in a research note on Monday, December 9th.

Laurentian Bank of Canada Stock Performance

Shares of LB opened at C$25.61 on Tuesday. The stock has a market capitalization of C$1.13 billion, a PE ratio of -204.26, a P/E/G ratio of 0.76 and a beta of 1.25. The company’s fifty day moving average is C$27.30 and its 200 day moving average is C$27.78. 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, May 1st will be paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 7.34%. The ex-dividend date of this dividend is Tuesday, April 1st. Laurentian Bank of Canada’s dividend payout ratio is currently -1,499.45%.

Laurentian Bank of Canada Company Profile

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.