Laurentian Bank of Canada (TSE:LB) Posts Quarterly Earnings Results

Laurentian Bank of Canada (TSE:LB) posted its earnings results on Friday. The company reported C$0.51 EPS for the quarter, FiscalAI reports. Laurentian Bank of Canada had a negative net margin of 0.41% and a negative return on equity of 0.30%. The company had revenue of C$241.73 million during the quarter.

Laurentian Bank of Canada Trading Up 0.0%

Shares of LB opened at C$40.32 on Friday. The company has a market capitalization of C$1.81 billion, a price-to-earnings ratio of 130.06, a PEG ratio of 0.76 and a beta of 1.16. The stock has a 50 day moving average of C$40.29 and a 200 day moving average of C$40.26. Laurentian Bank of Canada has a 12 month low of C$29.51 and a 12 month high of C$40.78.

Laurentian Bank of Canada Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, August 1st. Stockholders of record on Saturday, August 1st were issued a $0.47 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $1.88 annualized dividend and a dividend yield of 4.7%. Laurentian Bank of Canada’s dividend payout ratio is currently 606.45%.

Analyst Ratings Changes

Separately, Desjardins set a C$40.50 price target on Laurentian Bank of Canada and gave the company a “tender” rating in a research note on Wednesday, August 5th. Two analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of C$37.29.

Laurentian Bank of Canada Company Profile

Founded in Montreal in 1846, Laurentian Bank is committed to serving its customers and fostering deep relationships with specialized groups. Laurentian Bank runs operations across Canada – primarily in Québec and Ontario – as well as in the United States and competes where it sees market opportunity and has an edge, while harnessing the power of partnerships and collaboration.