Laurentian Bank of Canada (LB) Receives Average Recommendation of “Hold” from Analysts
Laurentian Bank of Canada (TSE:LB) has received a consensus rating of “Hold” from the ten ratings firms that are currently covering the stock. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is C$52.25.
LB has been the subject of a number of recent analyst reports. CIBC lifted their price target on shares of Laurentian Bank of Canada from C$52.00 to C$53.00 in a research note on Thursday, September 1st. TD Securities raised shares of Laurentian Bank of Canada from a “hold” rating to a “buy” rating in a research note on Tuesday, October 4th. Canaccord Genuity reaffirmed a “buy” rating and set a C$54.00 price target on shares of Laurentian Bank of Canada in a research note on Tuesday, September 27th. Desjardins reiterated a “hold” rating on shares of Laurentian Bank of Canada in a report on Wednesday, July 20th. Finally, Scotiabank decreased their price objective on shares of Laurentian Bank of Canada from C$55.00 to C$54.00 and set an “outperform” rating for the company in a report on Tuesday, July 26th.
Laurentian Bank of Canada (TSE:LB) traded up 0.27% during midday trading on Tuesday, hitting $48.70. 51,824 shares of the stock were exchanged. The firm’s 50 day moving average price is $48.93 and its 200 day moving average price is $49.20. Laurentian Bank of Canada has a 12 month low of $42.42 and a 12 month high of $55.82. The company has a market cap of $1.49 billion and a PE ratio of 14.07.
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The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Tuesday, November 1st will be issued a $0.60 dividend. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $2.40 annualized dividend and a dividend yield of 4.94%.
Laurentian Bank of Canada Company Profile
Laurentian Bank of Canada is a Canada-based chartered bank. The Bank, through its subsidiaries, provides banking services to individuals, and small and medium-sized enterprises, as well as to independent advisors, and operates as a full-service brokerage firm. It operates through three business segments: Personal & Commercial, B2B Bank, and Laurentian Bank Securities & Capital Markets.
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