Laurentian Bank of Canada (LB) Sets New 52-Week Low at $51.26

Laurentian Bank of Canada (TSE:LB) hit a new 52-week low on Tuesday . The company traded as low as C$51.26 and last traded at C$52.22, with a volume of 238275 shares trading hands. The stock had previously closed at C$51.86.

LB has been the subject of a number of recent analyst reports. Canaccord Genuity raised their price objective on Laurentian Bank of Canada from C$63.00 to C$67.00 in a research note on Wednesday, November 1st. CIBC raised their price objective on Laurentian Bank of Canada from C$61.00 to C$66.00 in a research note on Monday, November 13th. Barclays raised their price objective on Laurentian Bank of Canada from C$57.00 to C$62.00 in a research note on Wednesday, December 6th. BMO Capital Markets upgraded Laurentian Bank of Canada from a “market perform” rating to an “outperform” rating and raised their price objective for the company from C$57.00 to C$62.00 in a research note on Wednesday, December 6th. Finally, Desjardins lowered their price objective on Laurentian Bank of Canada from C$60.00 to C$59.00 in a research note on Wednesday, December 6th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of C$59.10.

The company has a market capitalization of $2,190.00, a price-to-earnings ratio of 9.78 and a beta of 0.42.

Laurentian Bank of Canada (TSE:LB) last released its earnings results on Tuesday, December 5th. The company reported C$1.63 EPS for the quarter, topping analysts’ consensus estimates of C$1.54 by C$0.09. Laurentian Bank of Canada had a return on equity of 11.79% and a net margin of 21.88%. The company had revenue of C$267.97 million for the quarter, compared to the consensus estimate of C$257.83 million.

The company also recently announced a quarterly dividend, which was paid on Thursday, February 1st. Shareholders of record on Tuesday, January 2nd were issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 4.78%. The ex-dividend date of this dividend was Friday, December 29th. This is an increase from Laurentian Bank of Canada’s previous quarterly dividend of $0.62. Laurentian Bank of Canada’s dividend payout ratio (DPR) is currently 45.64%.

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Laurentian Bank of Canada Company Profile

Laurentian Bank of Canada is a Canada-based Chartered bank. The Bank and its subsidiaries provide banking services to individuals, and small and medium-sized enterprises, as well as to independent advisors across Canada. It also operates as a full-service brokerage firm. The Bank’s loan portfolio consists of personal loans, residential mortgage loans, commercial mortgage loans and commercial loans, including acceptances and finance lease receivables.

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