Laurentian Bank of Canada (TSE:LB) Given Average Recommendation of “Reduce” by Analysts

Laurentian Bank of Canada (TSE:LB) has been assigned a consensus recommendation of “Reduce” from the eight research firms that are presently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a sell rating and five have given a hold rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is C$27.13.

LB has been the topic of several analyst reports. Raymond James lowered their price target on Laurentian Bank of Canada from C$29.00 to C$27.00 in a report on Monday, March 3rd. Jefferies Financial Group decreased their price objective on shares of Laurentian Bank of Canada from C$29.00 to C$27.00 in a report on Monday, April 21st. Scotiabank dropped their target price on shares of Laurentian Bank of Canada from C$33.00 to C$28.00 and set a “sector perform” rating on the stock in a report on Thursday, February 20th. CIBC cut their target price on shares of Laurentian Bank of Canada from C$31.00 to C$29.00 in a research report on Thursday. Finally, National Bankshares decreased their price target on shares of Laurentian Bank of Canada from C$27.00 to C$25.00 and set an “underperform” rating for the company in a report on Thursday.

Laurentian Bank of Canada Trading Up 0.6%

Shares of TSE:LB opened at C$28.17 on Wednesday. The stock has a market capitalization of C$1.24 billion, a PE ratio of -224.68, a P/E/G ratio of 0.76 and a beta of 1.25. Laurentian Bank of Canada has a 1 year low of C$24.37 and a 1 year high of C$31.74. The firm has a fifty day moving average price of C$26.96 and a 200 day moving average price of C$27.83.

Laurentian Bank of Canada Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Thursday, May 1st were given a $0.47 dividend. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $1.88 annualized dividend and a yield of 6.67%. Laurentian Bank of Canada’s dividend payout ratio is -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.