Cormark Weighs in on Laurentian Bank of Canada’s FY2024 Earnings (TSE:LB)

Laurentian Bank of Canada (TSE:LB) – Investment analysts at Cormark dropped their FY2024 earnings estimates for shares of Laurentian Bank of Canada in a report released on Tuesday, September 3rd. Cormark analyst L. Persaud now expects that the company will post earnings of $3.56 per share for the year, down from their previous forecast of $3.61. The consensus estimate for Laurentian Bank of Canada’s current full-year earnings is $3.94 per share.

Several other analysts have also recently weighed in on LB. Desjardins lifted their price objective on shares of Laurentian Bank of Canada from C$25.00 to C$26.00 and gave the stock a “sell” rating in a research note on Tuesday, August 6th. Royal Bank of Canada decreased their target price on shares of Laurentian Bank of Canada from C$26.00 to C$25.00 and set an “underperform” rating on the stock in a report on Monday, June 3rd. CIBC decreased their target price on shares of Laurentian Bank of Canada from C$30.00 to C$28.00 and set a “neutral” rating on the stock in a report on Tuesday, August 20th. Cibc World Mkts raised shares of Laurentian Bank of Canada to a “hold” rating in a report on Wednesday, August 21st. Finally, Jefferies Financial Group decreased their target price on shares of Laurentian Bank of Canada from C$28.00 to C$26.00 and set a “hold” rating on the stock in a report on Thursday, June 6th. Three analysts have rated the stock with a sell rating and nine have given a hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of C$27.42.

Laurentian Bank of Canada Stock Down 0.1 %

Shares of Laurentian Bank of Canada stock opened at C$26.39 on Wednesday. Laurentian Bank of Canada has a twelve month low of C$24.45 and a twelve month high of C$38.25. The company has a 50-day simple moving average of C$26.28 and a two-hundred day simple moving average of C$26.59. The stock has a market capitalization of C$1.16 billion, a price-to-earnings ratio of -94.25, a price-to-earnings-growth ratio of 0.76 and a beta of 1.25.

Laurentian Bank of Canada Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Tuesday, October 1st will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 7.12%. The ex-dividend date is Tuesday, October 1st. Laurentian Bank of Canada’s payout ratio is -671.43%.

About Laurentian Bank of Canada

Laurentian Bank of Canada, together with its subsidiaries, provides various financial services to personal, business, and institutional customers in Canada and the United States. It operates through three segments: Personal Banking, Commercial Banking, and Capital Markets. The Personal Banking segment offers financial services, such as financial advisory services to financial intermediaries; and operates digital direct-to-customer platform to retail clients.