Laurentian Bank of Canada (TSE:LB) Hits New 1-Year Low – What’s Next?

Laurentian Bank of Canada (TSE:LB)’s stock price reached a new 52-week low during trading on Monday . The company traded as low as C$24.37 and last traded at C$24.68, with a volume of 80347 shares traded. The stock had previously closed at C$25.61.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Scotiabank dropped their price objective on Laurentian Bank of Canada from C$33.00 to C$28.00 and set a “sector perform” rating for the company in a research note on Thursday, February 20th. Jefferies Financial Group lifted their target price on Laurentian Bank of Canada from C$29.00 to C$30.00 and gave the company a “hold” rating in a research report on Monday, December 9th. Raymond James reduced their price target on shares of Laurentian Bank of Canada from C$29.00 to C$27.00 in a research report on Monday, March 3rd. National Bankshares lifted their price objective on shares of Laurentian Bank of Canada from C$25.00 to C$27.00 and gave the company an “underperform” rating in a report on Monday, December 9th. 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 equities research analysts have rated the stock with a sell rating and five have given a hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of C$28.00.

Laurentian Bank of Canada Stock Performance

The company has a market capitalization of C$1.11 billion, a PE ratio of -201.39, a P/E/G ratio of 0.76 and a beta of 1.25. The stock’s 50-day simple moving average is C$27.30 and its 200 day simple moving average is C$27.78.

Laurentian Bank of Canada Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, May 1st will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 7.45%. The ex-dividend date of this dividend is Tuesday, April 1st. Laurentian Bank of Canada’s payout ratio is -1,499.45%.

Laurentian Bank of Canada Company Profile

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.