Laurentian Bank of Canada (TSE:LB) Plans $0.47 Quarterly Dividend

Laurentian Bank of Canada (TSE:LB) declared a quarterly dividend on Thursday, August 29th, Zacks reports. Stockholders of record on Tuesday, October 1st will be paid a dividend of 0.47 per share on Friday, November 1st. This represents a $1.88 annualized dividend and a dividend yield of 7.28%. The ex-dividend date of this dividend is Tuesday, October 1st.

Laurentian Bank of Canada Stock Down 4.3 %

LB opened at C$25.81 on Friday. The company has a fifty day simple moving average of C$26.30 and a 200 day simple moving average of C$26.59. The stock has a market cap of C$1.13 billion, a P/E ratio of -92.18, a P/E/G ratio of 0.76 and a beta of 1.25. Laurentian Bank of Canada has a 12 month low of C$24.45 and a 12 month high of C$39.35.

Laurentian Bank of Canada (TSE:LB) last released its quarterly earnings results on Friday, May 31st. The company reported C$0.90 EPS for the quarter, topping analysts’ consensus estimates of C$0.84 by C$0.06. Laurentian Bank of Canada had a negative return on equity of 0.01% and a negative net margin of 0.04%. The company had revenue of C$252.59 million for the quarter, compared to analyst estimates of C$253.47 million. On average, equities research analysts expect that Laurentian Bank of Canada will post 3.9419448 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Desjardins lifted their price target on shares of Laurentian Bank of Canada from C$25.00 to C$26.00 and gave the company a “sell” rating in a research note on Tuesday, August 6th. Raymond James cut their price objective on shares of Laurentian Bank of Canada from C$27.00 to C$26.00 and set a “market perform” rating on the stock in a research report on Tuesday, June 4th. Royal Bank of Canada lowered their target price on Laurentian Bank of Canada from C$26.00 to C$25.00 and set an “underperform” rating for the company in a report on Monday, June 3rd. Jefferies Financial Group decreased their price objective on Laurentian Bank of Canada from C$28.00 to C$26.00 and set a “hold” rating for the company in a report on Thursday, June 6th. Finally, National Bankshares cut their target price on 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 Monday, June 3rd. Three equities research analysts have rated the stock with a sell rating and eleven have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of C$28.24.

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.