Shares of Laurentian Bank of Canada (TSE:LB) have been assigned a consensus recommendation of “Hold” from the eleven research firms that are currently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation and five have issued a hold recommendation on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is C$43.36.
LB has been the topic of several analyst reports. Desjardins lowered their target price on Laurentian Bank of Canada from C$43.00 to C$42.00 and set a “hold” rating on the stock in a research report on Thursday, February 28th. Royal Bank of Canada decreased their target price on Laurentian Bank of Canada from C$51.00 to C$48.00 and set a “sector perform” rating for the company in a research report on Thursday, February 28th. TD Securities cut Laurentian Bank of Canada from a “buy” rating to a “hold” rating and decreased their target price for the stock from C$51.00 to C$47.00 in a research report on Thursday, February 28th. CSFB set a C$41.00 target price on Laurentian Bank of Canada and gave the stock an “underperform” rating in a research report on Thursday, May 16th. Finally, National Bank Financial cut Laurentian Bank of Canada from a “sector perform” rating to an “underperform” rating and decreased their target price for the stock from C$41.00 to C$36.00 in a research report on Thursday, February 28th.
Shares of Laurentian Bank of Canada stock traded up C$0.03 on Friday, reaching C$42.30. 111,738 shares of the company were exchanged, compared to its average volume of 312,764. The stock has a market capitalization of $1.77 billion and a price-to-earnings ratio of 9.25. Laurentian Bank of Canada has a 1-year low of C$36.21 and a 1-year high of C$49.05.
The business also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Monday, April 1st were issued a dividend of $0.65 per share. The ex-dividend date was Friday, March 29th. This represents a $2.60 annualized dividend and a yield of 6.15%. Laurentian Bank of Canada’s dividend payout ratio (DPR) is currently 55.94%.
About Laurentian Bank of Canada
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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