Laurentian Bank of Canada (TSE:LB) Price Target Cut to C$28.00 by Analysts at Scotiabank

Laurentian Bank of Canada (TSE:LB) had its target price reduced by Scotiabank from C$33.00 to C$28.00 in a report published on Thursday morning,BayStreet.CA reports. They currently have a sector perform rating on the stock.

Several other analysts have also recently commented on the stock. CIBC raised their price objective on shares of Laurentian Bank of Canada from C$28.00 to C$31.00 in a research note on Tuesday, November 26th. National Bankshares lifted their price target on shares of Laurentian Bank of Canada from C$25.00 to C$27.00 and gave the company an “underperform” rating in a research report on Monday, December 9th. Raymond James upped their price target on Laurentian Bank of Canada from C$27.00 to C$29.00 and gave the stock a “market perform” rating in a report on Monday, December 9th. Jefferies Financial Group lifted their price objective on Laurentian Bank of Canada from C$29.00 to C$30.00 and gave the stock a “hold” rating in a report on Monday, December 9th. Finally, BMO Capital Markets boosted their target price on Laurentian Bank of Canada from C$28.00 to C$31.00 in a research report on Monday, December 9th. Three equities research analysts have rated the stock with a sell rating and five have given a hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of C$28.11.

Laurentian Bank of Canada Stock Performance

TSE:LB opened at C$27.21 on Thursday. The stock has a market capitalization of C$1.20 billion, a price-to-earnings ratio of -217.02, a PEG ratio of 0.76 and a beta of 1.25. Laurentian Bank of Canada has a 1 year low of C$24.45 and a 1 year high of C$31.74. The stock has a fifty day moving average price of C$28.52 and a two-hundred day moving average price of C$27.61.

Laurentian Bank of Canada Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Saturday, February 1st. Shareholders of record on Friday, January 3rd were given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 6.91%. The ex-dividend date of this dividend was Friday, January 3rd. Laurentian Bank of Canada’s payout ratio is -1,499.45%.

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.