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Equities researchers at Scotiabank cut their price target on shares of Laurentian Bank of Canada (TSE:LB) from C$54.00 to C$52.00 in a research report issued on Friday. The firm currently has a “sector perform” rating on the stock. Scotiabank’s price target indicates a potential upside of 4.19% from the stock’s previous close.

Laurentian Bank of Canada (TSE:LB) traded down 0.42% during mid-day trading on Friday, hitting $49.70. 119,854 shares of the company’s stock traded hands. Laurentian Bank of Canada has a 1-year low of $44.25 and a 1-year high of $51.92. The stock has a 50-day moving average of $50.99 and a 200-day moving average of $48.32. The company has a market cap of $1.429 billion and a price-to-earnings ratio of 12.45.

Laurentian Bank of Canada (TSE:LB) last released its earnings data on Thursday, June 5th. The company reported $1.29 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.22 by $0.07.

The company also recently announced a quarterly dividend, which is scheduled for Saturday, November 1st. Stockholders of record on Wednesday, October 1st will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 4.17%.

LB has been the subject of a number of other recent research reports. Analysts at Canaccord Genuity raised their price target on shares of Laurentian Bank of Canada from C$52.50 to C$55.00 in a research note on Thursday, August 21st. Separately, analysts at Barclays raised their price target on shares of Laurentian Bank of Canada from C$50.00 to C$53.00 in a research note on Tuesday, August 19th. They now have an “underweight” rating on the stock. Finally, analysts at CIBC raised their price target on shares of Laurentian Bank of Canada from C$51.00 to C$55.00 in a research note on Tuesday, August 12th. They now have a “positive” rating on the stock. Two equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. Laurentian Bank of Canada has a consensus rating of “Hold” and a consensus price target of C$51.38.

Laurentian Bank of Canada (TSE:LB) is a Canada-based banking institution.

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