Laurentian Bank of Canada (TSE:LB) Hits New 1-Year High Following Analyst Upgrade

Laurentian Bank of Canada (TSE:LB)’s share price reached a new 52-week high during mid-day trading on Thursday after Raymond James Financial raised their price target on the stock from C$30.00 to C$40.50. The stock traded as high as C$40.01 and last traded at C$39.87, with a volume of 1536216 shares. The stock had previously closed at C$39.97.

Other equities research analysts also recently issued research reports about the stock. Desjardins boosted their target price on shares of Laurentian Bank of Canada from C$29.00 to C$30.00 and gave the company a “sell” rating in a research note on Wednesday, August 13th. CIBC increased their target price on shares of Laurentian Bank of Canada from C$33.00 to C$35.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 20th. Scotiabank set a C$33.00 price target on shares of Laurentian Bank of Canada and gave the company a “sector perform” rating in a research report on Tuesday, November 25th. National Bankshares decreased their price objective on shares of Laurentian Bank of Canada from C$27.00 to C$26.00 and set an “underperform” rating on the stock in a research note on Tuesday, September 2nd. Finally, Jefferies Financial Group raised their price objective on shares of Laurentian Bank of Canada from C$29.00 to C$31.00 in a report on Wednesday, August 13th. Four equities research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of C$32.21.

Laurentian Bank of Canada Price Performance

The stock’s 50 day moving average is C$33.09 and its two-hundred day moving average is C$31.60. The firm has a market capitalization of C$1.77 billion, a P/E ratio of 13.07, a P/E/G ratio of 0.76 and a beta of 1.47.

Laurentian Bank of Canada Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, November 1st. Shareholders of record on Saturday, November 1st were given a dividend of $0.47 per share. The ex-dividend date was Wednesday, October 1st. This represents a $1.88 annualized dividend and a dividend yield of 4.7%. Laurentian Bank of Canada’s payout ratio is presently 61.64%.

Laurentian Bank of Canada Company Profile

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.