Laurentian Bank of Canada Price Target Raised to C$51.00 at Scotiabank (LB)
Equities research analysts at Scotiabank upped their target price on shares of Laurentian Bank of Canada (TSE:LB) from C$49.00 to C$51.00 in a research note issued to investors on Thursday. The firm currently has a “sector perform” rating on the stock. Scotiabank’s target price would suggest a potential upside of 6.12% from the stock’s previous close.
Laurentian Bank of Canada (TSE:LB) traded up 0.48% during mid-day trading on Thursday, hitting $48.29. 70,084 shares of the company’s stock traded hands. Laurentian Bank of Canada has a 1-year low of $42.41 and a 1-year high of $48.20. The stock’s 50-day moving average is $47.29 and its 200-day moving average is $46.63. The company has a market cap of $1.383 billion and a price-to-earnings ratio of 11.78.
Laurentian Bank of Canada (TSE:LB) last posted its quarterly earnings results on Thursday, June 5th. The company reported $1.29 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.22 by $0.07. Analysts expect that Laurentian Bank of Canada will post $5.37 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, August 1st. Investors of record on Wednesday, July 2nd will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.33%.
Other equities research analysts have also recently issued reports about the stock. Analysts at Canaccord Genuity raised their price target on shares of Laurentian Bank of Canada from C$51.50 to C$52.50 in a research note on Thursday. Analysts at Barclays raised their price target on shares of Laurentian Bank of Canada from C$47.00 to C$50.00 in a research note on Thursday. They now have an “underweight” rating on the stock. Two equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. Laurentian Bank of Canada has a consensus rating of “Hold” and an average price target of C$48.56.
Laurentian Bank of Canada (TSE:LB) is a Canada-based banking institution.
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