Laurentian Bank of Canada (TSE:LB) Receives Consensus Recommendation of “Reduce” from Analysts

Shares of Laurentian Bank of Canada (TSE:LB) have been given a consensus rating of “Reduce” by the eight research firms that are covering the firm, MarketBeat reports. Three analysts have rated the stock with a sell recommendation and five have given a hold recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is C$29.57.

A number of equities analysts recently commented on the stock. CIBC boosted their target price on shares of Laurentian Bank of Canada from C$28.00 to C$33.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 3rd. Jefferies Financial Group decreased their price target on Laurentian Bank of Canada from C$29.00 to C$27.00 in a report on Monday, April 21st. Veritas raised Laurentian Bank of Canada to a “strong sell” rating in a research report on Monday, June 2nd. Raymond James Financial raised their target price on Laurentian Bank of Canada from C$27.00 to C$28.00 and gave the stock a “market perform” rating in a research report on Tuesday, June 3rd. Finally, National Bankshares boosted their target price on Laurentian Bank of Canada from C$25.00 to C$28.00 and gave the stock an “underperform” rating in a research note on Tuesday, June 3rd.

Laurentian Bank of Canada Stock Up 0.6%

TSE LB opened at C$30.42 on Friday. Laurentian Bank of Canada has a 52 week low of C$24.37 and a 52 week high of C$31.74. The firm has a 50 day moving average of C$28.20 and a two-hundred day moving average of C$28.04. The stock has a market capitalization of C$1.34 billion, a PE ratio of -242.62, a price-to-earnings-growth ratio of 0.76 and a beta of 1.25.

Laurentian Bank of Canada Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Thursday, May 1st were paid a $0.47 dividend. The ex-dividend date was Tuesday, April 1st. This represents a $1.88 annualized dividend and a yield of 6.18%. Laurentian Bank of Canada’s dividend payout ratio is presently -1,499.45%.

About Laurentian Bank of Canada

Laurentian Bank of Canada provides personal banking, business banking and real estate and commercial financing to its personal, business, and institutional customers across Canada and the United States. The company reports three operating segments: personal, business services, and capital markets. The personal segment offers financial services to retail clients.