Laurentian Bank of Canada (LB) Given Consensus Recommendation of “Hold” by Brokerages
Shares of Laurentian Bank of Canada (TSE:LB) have received an average rating of “Hold” from the ten ratings firms that are covering the stock, MarketBeat reports. Six analysts have rated the stock with a hold rating. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is C$59.11.
Several analysts have issued reports on LB shares. Barclays PLC raised shares of Laurentian Bank of Canada from an “underweight” rating to an “equal weight” rating in a report on Tuesday, May 23rd. Desjardins reduced their price objective on shares of Laurentian Bank of Canada from C$58.00 to C$57.00 and set a “hold” rating on the stock in a research note on Thursday, June 1st. TD Securities reduced their price objective on shares of Laurentian Bank of Canada from C$62.00 to C$60.00 and set a “hold” rating on the stock in a research note on Wednesday, May 31st. BMO Capital Markets reaffirmed a “market perform” rating and set a C$56.00 price target on shares of Laurentian Bank of Canada in a research report on Monday, May 29th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and set a C$57.00 price target on shares of Laurentian Bank of Canada in a research report on Wednesday, May 31st.
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Shares of Laurentian Bank of Canada (TSE LB) opened at 54.64 on Tuesday. The firm’s 50-day moving average price is $53.07 and its 200-day moving average price is $57.13. The stock has a market cap of $1.86 billion and a price-to-earnings ratio of 12.72. Laurentian Bank of Canada has a 12-month low of $47.75 and a 12-month high of $61.67.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 1st. Stockholders of record on Tuesday, August 1st will be paid a $0.62 dividend. The ex-dividend date is Thursday, June 29th. This represents a $2.48 annualized dividend and a dividend yield of 4.54%. This is a boost from Laurentian Bank of Canada’s previous quarterly dividend of $0.61.
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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