Laurentian Bank of Canada (TSE:LB) Hits New 1-Year High – Should You Buy?

Laurentian Bank of Canada (TSE:LB) hit a new 52-week high on Tuesday . The company traded as high as C$40.49 and last traded at C$40.49, with a volume of 297483 shares. The stock had previously closed at C$40.23.

Analyst Ratings Changes

LB has been the topic of several research analyst reports. BMO Capital Markets increased their price target on shares of Laurentian Bank of Canada from C$31.00 to C$40.50 in a research note on Monday, December 8th. Raymond James Financial cut shares of Laurentian Bank of Canada from a “market perform” rating to an “underperform” rating in a research report on Monday, December 8th. Royal Bank Of Canada raised Laurentian Bank of Canada from a “strong sell” rating to a “hold” rating and upped their price objective for the stock from C$25.00 to C$40.00 in a report on Monday, December 8th. Desjardins decreased their price objective on Laurentian Bank of Canada from C$50.00 to C$40.00 and set a “tender” rating on the stock in a research report on Monday, February 9th. Finally, Canadian Imperial Bank of Commerce downgraded Laurentian Bank of Canada from a “neutral” rating to a “tender” rating and boosted their target price for the stock from C$35.00 to C$40.50 in a research report on Monday, December 8th. Two research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, Laurentian Bank of Canada presently has a consensus rating of “Strong Sell” and a consensus price target of C$36.44.

Laurentian Bank of Canada Stock Performance

The company has a market capitalization of C$1.81 billion, a price-to-earnings ratio of 26.99, a P/E/G ratio of 0.76 and a beta of 1.35. The business’s 50-day simple moving average is C$40.12 and its 200-day simple moving average is C$37.18.

Laurentian Bank of Canada (TSE:LB) last issued its quarterly earnings results on Friday, February 27th. The company reported C$0.65 EPS for the quarter. Laurentian Bank of Canada had a net margin of 3.72% and a return on equity of 2.86%. The company had revenue of C$251.56 million during the quarter. On average, analysts forecast that Laurentian Bank of Canada will post 3.8414986 earnings per share for the current year.

Laurentian Bank of Canada Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 1st. Shareholders of record on Friday, May 1st will be given a dividend of $0.47 per share. The ex-dividend date is Wednesday, April 1st. This represents a $1.88 annualized dividend and a dividend yield of 4.6%. Laurentian Bank of Canada’s payout ratio is presently 125.33%.

About Laurentian Bank of Canada

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.