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

Laurentian Bank of Canada (TSE:LB) announced its earnings results on Friday. The company reported C$0.46 earnings per share for the quarter, FiscalAI reports. Laurentian Bank of Canada had a return on equity of 2.86% and a net margin of 3.72%.The company had revenue of C$236.16 million for the quarter.

Laurentian Bank of Canada Trading Up 0.1%

TSE LB opened at C$40.46 on Friday. The business’s 50 day moving average is C$40.26 and its two-hundred day moving average is C$39.36. Laurentian Bank of Canada has a 12-month low of C$28.34 and a 12-month high of C$40.49. The stock has a market capitalization of C$1.81 billion, a price-to-earnings ratio of 26.97, a PEG ratio of 0.76 and a beta of 1.23.

Laurentian Bank of Canada Dividend Announcement

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

Wall Street Analyst Weigh In

Separately, Desjardins lowered their target price on Laurentian Bank of Canada from C$50.00 to C$40.00 and set a “tender” rating on the stock in a research note on Monday, February 9th. Two equities research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Laurentian Bank of Canada presently has an average rating of “Strong Sell” and a consensus price target of C$36.44.

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.