Laurentian Bank of Canada to Post Q2 2023 Earnings of $1.15 Per Share, Cormark Forecasts (TSE:LB)

Laurentian Bank of Canada (TSE:LB – Get Rating) – Analysts at Cormark cut their Q2 2023 earnings estimates for Laurentian Bank of Canada in a research report issued to clients and investors on Tuesday, May 23rd. Cormark analyst L. Persaud now expects that the company will earn $1.15 per share for the quarter, down from their previous estimate of $1.16. The consensus estimate for Laurentian Bank of Canada’s current full-year earnings is $4.74 per share. Cormark also issued estimates for Laurentian Bank of Canada’s FY2023 earnings at $4.83 EPS and FY2024 earnings at $5.10 EPS.

Laurentian Bank of Canada (TSE:LB – Get Rating) last released its quarterly earnings data on Tuesday, February 28th. The company reported C$1.15 earnings per share for the quarter, topping the consensus estimate of C$1.12 by C$0.03. The firm had revenue of C$260.07 million for the quarter, compared to the consensus estimate of C$259.00 million. Laurentian Bank of Canada had a net margin of 22.90% and a return on equity of 8.15%.

Several other analysts also recently commented on LB. CIBC lowered their target price on shares of Laurentian Bank of Canada from C$40.00 to C$37.00 in a report on Tuesday, May 16th. Scotiabank reduced their price target on shares of Laurentian Bank of Canada from C$39.00 to C$38.00 in a research report on Friday, February 17th. Barclays reduced their price target on shares of Laurentian Bank of Canada from C$36.00 to C$34.00 in a research report on Tuesday, May 9th. National Bankshares reduced their price target on shares of Laurentian Bank of Canada from C$42.00 to C$39.00 in a research report on Thursday, May 18th. Finally, CSFB reduced their price target on shares of Laurentian Bank of Canada from C$35.00 to C$32.00 in a research report on Tuesday, May 16th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of C$39.55.

Laurentian Bank of Canada Price Performance

Shares of LB stock opened at C$30.33 on Wednesday. The firm has a 50-day moving average of C$31.53 and a 200-day moving average of C$32.94. The company has a market cap of C$1.32 billion, a P/E ratio of 6.28, a P/E/G ratio of 0.76 and a beta of 1.15. Laurentian Bank of Canada has a one year low of C$28.23 and a one year high of C$43.32.

Laurentian Bank of Canada Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 1st. Stockholders of record on Monday, May 1st were given a $0.46 dividend. The ex-dividend date of this dividend was Friday, March 31st. This represents a $1.84 dividend on an annualized basis and a dividend yield of 6.07%. Laurentian Bank of Canada’s dividend payout ratio (DPR) is currently 38.10%.

Laurentian Bank of Canada Company Profile

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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.