Laurentian Bank of Canada (LB) Given New C$57.00 Price Target at Desjardins

Laurentian Bank of Canada (TSE:LB) had its target price trimmed by Desjardins from C$59.00 to C$57.00 in a research note published on Tuesday morning. Desjardins also issued estimates for Laurentian Bank of Canada’s Q1 2018 earnings at $1.46 EPS, Q2 2018 earnings at $1.46 EPS, Q3 2018 earnings at $1.56 EPS, Q4 2018 earnings at $1.52 EPS, FY2018 earnings at $6.01 EPS and FY2019 earnings at $6.40 EPS.

Several other research analysts have also commented on the stock. Barclays upgraded shares of Laurentian Bank of Canada from an equal weight rating to an outperform rating in a research note on Tuesday, December 19th. TD Securities upgraded shares of Laurentian Bank of Canada from a hold rating to a buy rating and increased their price target for the stock from C$62.00 to C$63.00 in a research note on Wednesday, December 6th. Royal Bank of Canada dropped their price target on shares of Laurentian Bank of Canada from C$60.00 to C$55.00 and set a sector perform rating on the stock in a research note on Wednesday, December 6th. CSFB dropped their price target on shares of Laurentian Bank of Canada from C$57.00 to C$55.00 in a research note on Tuesday, January 9th. Finally, Scotiabank dropped their price target on shares of Laurentian Bank of Canada from C$67.00 to C$64.00 and set a sector perform rating on the stock in a research note on Wednesday, December 6th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of Hold and an average price target of C$59.10.

Laurentian Bank of Canada (TSE LB) opened at C$53.38 on Tuesday. The firm has a market cap of $2,080.00, a P/E ratio of 9.90 and a beta of 0.48. Laurentian Bank of Canada has a 12 month low of C$51.57 and a 12 month high of C$62.90.

Laurentian Bank of Canada (TSE:LB) last released its quarterly earnings data on Tuesday, December 5th. The company reported C$1.63 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of C$1.54 by C$0.09. Laurentian Bank of Canada had a net margin of 22.10% and a return on equity of 11.90%.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Tuesday, January 2nd will be issued a dividend of $0.63 per share. This is an increase from Laurentian Bank of Canada’s previous quarterly dividend of $0.62. This represents a $2.52 annualized dividend and a dividend yield of 4.72%. The ex-dividend date is Friday, December 29th. Laurentian Bank of Canada’s dividend payout ratio is currently 45.64%.

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About Laurentian Bank of Canada

Laurentian Bank of Canada is a Canada-based Chartered bank. The Bank and its subsidiaries provide banking services to individuals, and small and medium-sized enterprises, as well as to independent advisors across Canada. It also operates as a full-service brokerage firm. The Bank’s loan portfolio consists of personal loans, residential mortgage loans, commercial mortgage loans and commercial loans, including acceptances and finance lease receivables.

Analyst Recommendations for Laurentian Bank of Canada (TSE:LB)

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