Laurentian Bank of Canada (TSE:LB) Reaches New 12-Month High – Should You Buy?

Laurentian Bank of Canada (TSE:LB)’s stock price hit a new 52-week high during trading on Monday . The company 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.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on LB shares. Scotiabank raised their price objective on Laurentian Bank of Canada from C$26.00 to C$30.00 in a research report on Monday, November 25th. CIBC raised their price target on shares of Laurentian Bank of Canada from C$28.00 to C$31.00 in a report on Tuesday, November 26th. Desjardins boosted their price objective on shares of 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. Raymond James raised their target price on shares of Laurentian Bank of Canada from C$26.00 to C$27.00 in a research note on Wednesday, September 4th. Finally, BMO Capital Markets lifted their price target on shares of Laurentian Bank of Canada from C$27.00 to C$28.00 in a report on Monday, November 18th. Three investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to MarketBeat, Laurentian Bank of Canada has an average rating of “Hold” and a consensus price target of C$27.10.

Laurentian Bank of Canada Price Performance

The firm has a fifty day moving average of C$27.31 and a 200 day moving average of C$26.68. The stock has a market capitalization of C$1.30 billion, a price-to-earnings ratio of -47.71, a price-to-earnings-growth ratio of 0.76 and a beta of 1.25.

Laurentian Bank of Canada Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, November 1st were given a $0.47 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 6.36%. Laurentian Bank of Canada’s dividend payout ratio (DPR) 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.