Canaccord Genuity Trims Laurentian Bank of Canada (LB) Target Price to C$34.00

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Laurentian Bank of Canada (TSE:LB) had its price objective reduced by Canaccord Genuity from C$35.00 to C$34.00 in a research note published on Wednesday morning, BayStreet.CA reports.

LB has been the topic of several other reports. CIBC reduced their price target on Laurentian Bank of Canada from C$43.00 to C$41.00 in a research report on Thursday, February 28th. TD Securities lowered Laurentian Bank of Canada from a buy rating to a hold rating and reduced their price target for the stock from C$51.00 to C$47.00 in a research report on Thursday, February 28th. Desjardins reduced their price target on Laurentian Bank of Canada from C$43.00 to C$42.00 and set a hold rating on the stock in a research report on Thursday, February 28th. National Bank Financial lowered Laurentian Bank of Canada from a sector perform rating to an underperform rating and reduced their price target for the stock from C$41.00 to C$36.00 in a research report on Thursday, February 28th. Finally, Royal Bank of Canada reduced their price target on Laurentian Bank of Canada from C$51.00 to C$48.00 and set a sector perform rating on the stock in a research report on Thursday, February 28th. Three investment analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. The company currently has an average rating of Hold and an average price target of C$43.36.

TSE LB opened at C$42.01 on Wednesday. The stock has a market capitalization of $1.77 billion and a PE ratio of 9.18. Laurentian Bank of Canada has a 1-year low of C$36.21 and a 1-year high of C$49.59.

Laurentian Bank of Canada (TSE:LB) last released its quarterly earnings data on Wednesday, February 27th. The company reported C$0.98 earnings per share for the quarter, missing the consensus estimate of C$1.29 by C($0.31). The firm had revenue of C$242.34 million during the quarter, compared to analyst estimates of C$259.30 million. Sell-side analysts anticipate that Laurentian Bank of Canada will post 4.91999982830465 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Monday, April 1st were given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 6.19%. The ex-dividend date of this dividend was Friday, March 29th. Laurentian Bank of Canada’s payout ratio is 55.94%.

Laurentian Bank of Canada Company Profile

Laurentian Bank of Canada, together with its subsidiaries, provides banking services to individuals, small and medium-sized enterprises, and independent advisors in Canada and the United States. It operates through four segments: Retail Services, Business Services, B2B Bank, and Capital Markets. The company offers transactional products and current accounts, term deposits, and investment accounts; personal line of credit, personal loans, student loans, and registered retirement savings plans; financing for agriculture, real estate, and commercial industries, as well as small and medium-sized enterprises; mortgage solutions, such as variable-rate mortgage, fixed-rate mortgage, equity line of credit, mortgage insurance, and retirement line of credit; and credit and business cards, as well as equipment finance solutions.

Further Reading: P/E Growth (PEG)

Analyst Recommendations for Laurentian Bank of Canada (TSE:LB)

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