Laurentian Bank of Canada Announces Quarterly Dividend of $0.47 (TSE:LB)

Laurentian Bank of Canada (TSE:LB) declared a quarterly dividend on Friday, December 6th,RTT News reports. Stockholders of record on Friday, January 3rd will be given a dividend of 0.47 per share on Saturday, February 1st. This represents a $1.88 annualized dividend and a dividend yield of 6.48%.

Laurentian Bank of Canada Stock Performance

TSE LB opened at C$29.02 on Friday. The firm’s 50 day moving average price is C$27.44 and its two-hundred day moving average price is C$26.72. Laurentian Bank of Canada has a twelve month low of C$24.45 and a twelve month high of C$29.88. The stock has a market cap of C$1.27 billion, a price-to-earnings ratio of -46.81, a PEG ratio of 0.76 and a beta of 1.25.

Analyst Upgrades and Downgrades

Several research firms have recently commented on LB. Raymond James boosted their price target on shares of Laurentian Bank of Canada from C$26.00 to C$27.00 in a report on Wednesday, September 4th. CIBC boosted their target price on Laurentian Bank of Canada from C$28.00 to C$31.00 in a research note on Tuesday, November 26th. Scotiabank raised their price target on Laurentian Bank of Canada from C$26.00 to C$30.00 in a research note on Monday, November 25th. 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. Finally, Cibc World Mkts upgraded Laurentian Bank of Canada to a “hold” rating in a report on Wednesday, August 21st. Three investment analysts have rated the stock with a sell rating and seven have given a hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of C$27.10.

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.