Laurentian Bank of Canada (TSE:LB) to Issue $0.65 Quarterly Dividend

Laurentian Bank of Canada (TSE:LB) announced a quarterly dividend on Tuesday, February 26th, Zacks reports. Stockholders of record on Monday, April 1st will be paid a dividend of 0.65 per share on Wednesday, May 1st. This represents a $2.60 annualized dividend and a dividend yield of 6.25%. The ex-dividend date of this dividend is Friday, March 29th.

LB traded up C$0.19 on Monday, reaching C$41.59. 182,634 shares of the company’s stock were exchanged, compared to its average volume of 347,935. The firm has a market capitalization of $1.75 billion and a PE ratio of 9.09. Laurentian Bank of Canada has a twelve month low of C$36.21 and a twelve month high of C$49.94.

A number of research firms recently weighed in on LB. Royal Bank of Canada lowered their price target on shares of Laurentian Bank of Canada from C$51.00 to C$48.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 28th. Desjardins reduced their target price on shares of Laurentian Bank of Canada from C$43.00 to C$42.00 and set a “hold” rating on the stock in a research note on Thursday, February 28th. CIBC reduced their target price on shares of Laurentian Bank of Canada from C$43.00 to C$41.00 in a research note on Thursday, February 28th. National Bank Financial downgraded shares of Laurentian Bank of Canada from a “sector perform” rating to an “underperform” rating and reduced their target price for the stock from C$41.00 to C$36.00 in a research note on Thursday, February 28th. Finally, TD Securities downgraded shares of Laurentian Bank of Canada from a “buy” rating to a “hold” rating and reduced their target price for the stock from C$51.00 to C$47.00 in a research note on Thursday, February 28th. Two investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. The stock has an average rating of “Hold” and an average price target of C$44.20.

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Laurentian Bank of Canada Company Profile

Laurentian Bank of Canada, together with its subsidiaries, provides banking services to individuals, small and medium-sized enterprises, and independent advisors in Canada and the United States. It operates through four segments: Retail Services, Business Services, B2B Bank, and Capital Markets. The company offers transactional products and current accounts, term deposits, and investment accounts; personal line of credit, personal loans, student loans, and registered retirement savings plans; financing for agriculture, real estate, and commercial industries, as well as small and medium-sized enterprises; mortgage solutions, such as variable-rate mortgage, fixed-rate mortgage, equity line of credit, mortgage insurance, and retirement line of credit; and credit and business cards, as well as equipment finance solutions.

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Dividend History for Laurentian Bank of Canada (TSE:LB)

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