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

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

Analysts Set New Price Targets

Several equities analysts have commented on LB shares. Raymond James increased their price target on Laurentian Bank of Canada from C$26.00 to C$27.00 in a report on Wednesday, September 4th. CIBC raised their price objective on shares of Laurentian Bank of Canada from C$28.00 to C$31.00 in a research note on Tuesday, November 26th. BMO Capital Markets raised their price objective on shares of Laurentian Bank of Canada from C$27.00 to C$28.00 in a research note on Monday, November 18th. Desjardins raised 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. Finally, Cibc World Mkts upgraded shares of Laurentian Bank of Canada to a “hold” rating in a research note on Wednesday, August 21st. Three research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of C$27.10.

Laurentian Bank of Canada Stock Up 0.2 %

The stock has a fifty day moving average of C$27.26 and a 200-day moving average of C$26.66. The firm 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 data on Friday, August 30th. The company reported C$0.88 EPS for the quarter, topping 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, analysts forecast that Laurentian Bank of Canada will post 3.8414986 EPS for the current fiscal year.

Laurentian Bank of Canada Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors 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 yield of 6.33%. Laurentian Bank of Canada’s payout ratio is -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.