CIBC Cuts Laurentian Bank of Canada (TSE:LB) Price Target to C$29.00

Laurentian Bank of Canada (TSE:LB) had its price target reduced by CIBC from C$31.00 to C$29.00 in a report published on Thursday,BayStreet.CA reports.

LB has been the topic of a number of other reports. Scotiabank reduced their target price on shares of Laurentian Bank of Canada from C$33.00 to C$28.00 and set a “sector perform” rating on the stock in a report on Thursday, February 20th. National Bankshares reduced their target price on shares of Laurentian Bank of Canada from C$27.00 to C$25.00 and set an “underperform” rating on the stock in a report on Thursday. Raymond James reduced their target price on shares of Laurentian Bank of Canada from C$29.00 to C$27.00 in a report on Monday, March 3rd. Jefferies Financial Group reduced their target price on shares of Laurentian Bank of Canada from C$29.00 to C$27.00 in a report on Monday, April 21st. Finally, BMO Capital Markets reduced their target price on shares of Laurentian Bank of Canada from C$31.00 to C$30.00 in a report on Monday, March 3rd. Three research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of C$27.13.

Laurentian Bank of Canada Stock Performance

Shares of TSE LB opened at C$28.17 on Thursday. The company has a market cap of C$1.24 billion, a P/E ratio of -224.68, a P/E/G ratio of 0.76 and a beta of 1.25. The firm’s fifty day moving average is C$26.96 and its two-hundred day moving average is C$27.82. Laurentian Bank of Canada has a 52-week low of C$24.37 and a 52-week high of C$31.74.

Laurentian Bank of Canada Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Thursday, May 1st were issued a $0.47 dividend. The ex-dividend date was Tuesday, April 1st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 6.67%. Laurentian Bank of Canada’s dividend payout ratio is currently -1,499.45%.

About Laurentian Bank of Canada

Laurentian Bank of Canada provides personal banking, business banking and real estate and commercial financing to its personal, business, and institutional customers across Canada and the United States. The company reports three operating segments: personal, business services, and capital markets. The personal segment offers financial services to retail clients.