Laurentian Bank of Canada (LB) Hits New 1-Year Low at $40.84

Shares of Laurentian Bank of Canada (TSE:LB) reached a new 52-week low during trading on Thursday . The company traded as low as C$40.84 and last traded at C$41.03, with a volume of 213401 shares traded. The stock had previously closed at C$41.56.

A number of research firms have commented on LB. Cormark lowered their target price on shares of Laurentian Bank of Canada from C$53.00 to C$45.00 in a report on Wednesday, September 5th. Royal Bank of Canada lifted their price target on shares of Laurentian Bank of Canada from C$55.00 to C$56.00 and gave the stock a “sector perform” rating in a research report on Wednesday, September 5th. TD Securities reduced their price target on shares of Laurentian Bank of Canada from C$55.00 to C$51.00 and set a “buy” rating on the stock in a research report on Wednesday, September 5th. CIBC reduced their price target on shares of Laurentian Bank of Canada from C$49.00 to C$47.00 in a research report on Wednesday, September 5th. Finally, BMO Capital Markets cut shares of Laurentian Bank of Canada from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from C$57.00 to C$50.00 in a research report on Wednesday, September 5th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of C$50.91.

Laurentian Bank of Canada (TSE:LB) last announced its quarterly earnings results on Tuesday, September 4th. The company reported C$1.34 earnings per share for the quarter, missing analysts’ consensus estimates of C$1.47 by C($0.13). The firm had revenue of C$260.66 million for the quarter, compared to the consensus estimate of C$267.51 million. Laurentian Bank of Canada had a return on equity of 11.79% and a net margin of 21.88%.

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 1st. Stockholders of record on Monday, October 1st will be given a dividend of $0.64 per share. The ex-dividend date is Friday, September 28th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 6.30%.

In related news, insider William James Alexander Mason acquired 2,000 shares of the business’s stock in a transaction that occurred on Friday, September 7th. The shares were acquired at an average cost of C$42.50 per share, with a total value of C$85,000.00.

Laurentian Bank of Canada Company Profile (TSE:LB)

Laurentian Bank of Canada, together with its subsidiaries, provides banking services to individuals, small and medium-sized enterprises, and independent advisors in Canada and the United States. It operates through four segments: Retail Services, Business Services, B2B Bank, and Capital Markets. The company offers transactional products and current accounts, term deposits, and investment accounts; personal line of credit, personal loans, student loans, and registered retirement savings plans; financing for agriculture, real estate, and commercial industries, as well as small and medium-sized enterprises; mortgage solutions, such as variable-rate mortgage, fixed-rate mortgage, equity line of credit, mortgage insurance, and retirement line of credit; and credit and business cards, as well as equipment finance and leasing solutions.

See Also: 52-Week High/Low

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