Laurentian Bank of Canada (TSE:LB) has received an average recommendation of “Hold” from the ten ratings firms that are currently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is C$58.78.
LB has been the topic of a number of analyst reports. CIBC dropped their target price on Laurentian Bank of Canada from C$66.00 to C$60.00 in a research report on Monday, December 11th. CSFB dropped their target price on Laurentian Bank of Canada from C$57.00 to C$55.00 in a research report on Tuesday, January 9th. Desjardins dropped their target price on Laurentian Bank of Canada from C$60.00 to C$59.00 in a research report on Wednesday, December 6th. Barclays boosted their price objective on Laurentian Bank of Canada from C$57.00 to C$62.00 in a report on Wednesday, December 6th. Finally, Canaccord Genuity boosted their price objective on Laurentian Bank of Canada from C$63.00 to C$67.00 in a report on Wednesday, November 1st.
Shares of Laurentian Bank of Canada (LB) traded up C$0.77 during midday trading on Wednesday, hitting C$53.48. The stock had a trading volume of 134,687 shares, compared to its average volume of 263,550. Laurentian Bank of Canada has a twelve month low of C$51.26 and a twelve month high of C$62.90. The stock has a market capitalization of $2,220.00, a price-to-earnings ratio of 9.92 and a beta of 0.42.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 1st. Investors of record on Tuesday, January 2nd were issued a $0.63 dividend. This is a positive change from Laurentian Bank of Canada’s previous quarterly dividend of $0.62. This represents a $2.52 annualized dividend and a yield of 4.71%. The ex-dividend date was Friday, December 29th. Laurentian Bank of Canada’s 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.
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