Laurentian Bank of Canada (LB) Price Target Raised to C$62.00
Laurentian Bank of Canada (TSE:LB) had its target price increased by investment analysts at Canaccord Genuity from C$58.00 to C$62.00 in a research note issued to investors on Friday, StockTargetPrices.com reports. Canaccord Genuity’s price target would suggest a potential upside of 5.69% from the stock’s current price.
Several other research firms have also issued reports on LB. BMO Capital Markets upped their target price on shares of Laurentian Bank of Canada from C$52.00 to C$56.00 in a research note on Wednesday, December 7th. TD Securities upgraded shares of Laurentian Bank of Canada from a “hold” rating to a “buy” rating in a research note on Tuesday, October 4th. Barclays PLC upped their target price on shares of Laurentian Bank of Canada from C$48.00 to C$52.00 in a research note on Wednesday, December 7th. Royal Bank Of Canada upped their target price on shares of Laurentian Bank of Canada from C$52.00 to C$57.00 and gave the stock a “sector perform” rating in a research note on Wednesday, December 7th. Finally, National Bank Financial upped their target price on shares of Laurentian Bank of Canada from C$52.00 to C$57.00 in a research note on Wednesday, December 7th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of C$56.58.
Laurentian Bank of Canada (TSE:LB) traded down 0.65% during trading on Friday, reaching $58.28. 54,863 shares of the company were exchanged. The firm’s 50 day moving average price is $56.89 and its 200-day moving average price is $51.00. Laurentian Bank of Canada has a one year low of $42.42 and a one year high of $59.21. The stock has a market capitalization of $1.97 billion and a price-to-earnings ratio of 12.82.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 1st. Shareholders of record on Wednesday, February 1st will be issued a dividend of $0.61 per share. The ex-dividend date is Thursday, December 29th. This is an increase from Laurentian Bank of Canada’s previous quarterly dividend of $0.60. This represents a $2.44 annualized dividend and a yield of 4.16%.
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About Laurentian Bank of Canada
Laurentian Bank of Canada is a Canada-based chartered bank. The Bank, through its subsidiaries, provides banking services to individuals, and small and medium-sized enterprises, as well as to independent advisors, and operates as a full-service brokerage firm. It operates through three business segments: Personal & Commercial, B2B Bank, and Laurentian Bank Securities & Capital Markets.
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