Laurentian Bank of Canada (LB) – Investment Analysts’ Weekly Ratings Changes

Laurentian Bank of Canada (TSE: LB) recently received a number of ratings updates from brokerages and research firms:

• 6/4/2024 – Laurentian Bank of Canada had its price target lowered by analysts at Desjardins from C$26.00 to C$25.00. They now have a “sell” rating on the stock.
• 6/4/2024 – Laurentian Bank of Canada had its price target lowered by analysts at Raymond James from C$27.00 to C$26.00. They now have a “market perform” rating on the stock.
• 6/3/2024 – Laurentian Bank of Canada had its price target lowered by analysts at National Bankshares, Inc. from C$27.00 to C$26.00. They now have an “underperform” rating on the stock.
• 6/3/2024 – Laurentian Bank of Canada had its price target lowered by analysts at Royal Bank of Canada from C$26.00 to C$25.00. They now have an “underperform” rating on the stock.
• 6/3/2024 – Laurentian Bank of Canada had its price target lowered by analysts at CIBC from C$33.00 to C$30.00. They now have a “neutral” rating on the stock.
• 5/13/2024 – Laurentian Bank of Canada had its price target raised by analysts at Jefferies Financial Group Inc. from C$24.00 to C$28.00.

Laurentian Bank of Canada Stock Down 0.6 %

Shares of TSE LB traded down C$0.14 during midday trading on Wednesday, reaching C$25.22. 107,714 shares of the company were exchanged, compared to its average volume of 175,743. Laurentian Bank of Canada has a one year low of C$24.81 and a one year high of C$48.23. The stock has a market cap of C$1.10 billion, a P/E ratio of 7.10, a PEG ratio of 0.76 and a beta of 1.28. The stock’s 50-day moving average price is C$26.65 and its 200-day moving average price is C$26.75.

Laurentian Bank of Canada Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Tuesday, July 2nd will be issued a $0.47 dividend. The ex-dividend date of this dividend is Tuesday, July 2nd. This represents a $1.88 annualized dividend and a yield of 7.45%. Laurentian Bank of Canada’s payout ratio is 52.96%.

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.