Laurentian Bank of Canada (TSE:LB) Sets New 1-Year High on Analyst Upgrade

Shares of Laurentian Bank of Canada (TSE:LB) reached a new 52-week high on Monday after Scotiabank raised their price target on the stock from C$26.00 to C$30.00. The company traded as high as C$29.40 and last traded at C$29.26, with a volume of 127744 shares. The stock had previously closed at C$28.81.

Several other research firms have also weighed in on LB. Cibc World Mkts upgraded shares of Laurentian Bank of Canada to a “hold” rating in a research report on Wednesday, August 21st. Raymond James raised their price objective on shares of Laurentian Bank of Canada from C$26.00 to C$27.00 in a research report on Wednesday, September 4th. Desjardins raised their price objective on shares of Laurentian Bank of Canada from C$25.00 to C$26.00 and gave the company a “sell” rating in a research report on Tuesday, August 6th. CIBC reduced their price objective on shares of Laurentian Bank of Canada from C$30.00 to C$28.00 and set a “neutral” rating for the company in a research report on Tuesday, August 20th. Finally, BMO Capital Markets raised their price objective on shares of Laurentian Bank of Canada from C$27.00 to C$28.00 in a research report on Monday, November 18th. Three investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of C$26.80.

Laurentian Bank of Canada Price Performance

The company has a market capitalization of C$1.29 billion, a price-to-earnings ratio of -47.23, a price-to-earnings-growth ratio of 0.76 and a beta of 1.25. The stock has a 50 day moving average price of C$27.04 and a two-hundred day moving average price of C$26.56.

Laurentian Bank of Canada (TSE:LB) last announced its earnings results on Friday, August 30th. The company reported C$0.88 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.85 by C$0.03. The company had revenue of C$256.50 million during the quarter, compared to analyst estimates of C$257.90 million. Laurentian Bank of Canada had a negative return on equity of 0.55% and a negative net margin of 1.64%. Sell-side analysts forecast that Laurentian Bank of Canada will post 3.8414986 EPS for the current fiscal year.

Laurentian Bank of Canada Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, November 1st were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 6.42%. The ex-dividend date of this dividend was Tuesday, October 1st. Laurentian Bank of Canada’s dividend payout ratio (DPR) is currently -303.23%.

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.