Laurentian Bank of Canada (TSE:LB) Sets New 12-Month High – Still a Buy?

Laurentian Bank of Canada (TSE:LB) reached a new 52-week high during trading on Monday . The stock traded as high as C$29.88 and last traded at C$29.71, with a volume of 8440 shares. The stock had previously closed at C$29.65.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. CIBC raised their price objective on Laurentian Bank of Canada from C$28.00 to C$31.00 in a research note on Tuesday, November 26th. BMO Capital Markets lifted their price target on Laurentian Bank of Canada from C$27.00 to C$28.00 in a report on Monday, November 18th. Scotiabank upped their price target on Laurentian Bank of Canada from C$26.00 to C$30.00 in a research report on Monday, November 25th. Cibc World Mkts raised Laurentian Bank of Canada to a “hold” rating in a report on Wednesday, August 21st. Finally, Desjardins upped their target price on Laurentian Bank of Canada from C$25.00 to C$26.00 and gave the stock a “sell” rating in a research note on Tuesday, August 6th. Three research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of C$27.10.

Laurentian Bank of Canada Stock Up 0.2 %

The company has a 50 day simple moving average of C$27.26 and a two-hundred day simple moving average of C$26.66. The company has a market capitalization of C$1.30 billion, a P/E ratio of -47.82, a PEG ratio of 0.76 and a beta of 1.25.

Laurentian Bank of Canada (TSE:LB) last announced its quarterly earnings results on Friday, August 30th. The company reported C$0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.85 by C$0.03. The firm had revenue of C$256.50 million during the quarter, compared to analyst estimates of C$257.90 million. Laurentian Bank of Canada had a negative return on equity of 0.55% and a negative net margin of 1.64%. As a group, research analysts expect that Laurentian Bank of Canada will post 3.8414986 EPS for the current fiscal year.

Laurentian Bank of Canada Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, November 1st were issued a dividend of $0.47 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $1.88 dividend on an annualized basis and a yield of 6.33%. Laurentian Bank of Canada’s dividend payout ratio is currently -303.23%.

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.