Laurentian Bank of Canada (TSE:LB) Hits New 52-Week High – What’s Next?

Laurentian Bank of Canada (TSE:LB) shares hit a new 52-week high on Tuesday . The company traded as high as C$40.00 and last traded at C$39.98, with a volume of 111641 shares trading hands. The stock had previously closed at C$39.97.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on LB shares. CIBC lowered shares of Laurentian Bank of Canada from a “neutral” rating to a “tender” rating and upped their price objective for the stock from C$35.00 to C$40.50 in a report on Monday, December 8th. BMO Capital Markets boosted their target price on Laurentian Bank of Canada from C$31.00 to C$40.50 in a research report on Monday, December 8th. Scotiabank set a C$33.00 price target on Laurentian Bank of Canada and gave the stock a “sector perform” rating in a research note on Tuesday, November 25th. National Bankshares lowered their price target on Laurentian Bank of Canada from C$27.00 to C$26.00 and set an “underperform” rating for the company in a research report on Tuesday, September 2nd. Finally, Royal Bank Of Canada raised Laurentian Bank of Canada from a “strong sell” rating to a “hold” rating and lifted their price objective for the company from C$25.00 to C$40.00 in a research note on Monday, December 8th. Two research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Strong Sell” and a consensus target price of C$35.19.

Laurentian Bank of Canada Stock Performance

The company has a market capitalization of C$1.78 billion, a PE ratio of 14.08, a price-to-earnings-growth ratio of 0.76 and a beta of 1.44. The stock’s fifty day simple moving average is C$34.23 and its 200-day simple moving average is C$32.28.

Laurentian Bank of Canada (TSE:LB) last announced its quarterly earnings data on Friday, December 5th. The company reported C$0.73 earnings per share (EPS) for the quarter. Laurentian Bank of Canada had a negative net margin of 0.30% and a negative return on equity of 0.20%. The business had revenue of C$244.71 million for the quarter. On average, equities analysts anticipate that Laurentian Bank of Canada will post 3.8414986 EPS for the current year.

Laurentian Bank of Canada Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, November 1st. Stockholders of record on Saturday, November 1st were given a $0.47 dividend. The ex-dividend date of this dividend was Wednesday, October 1st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 4.7%. Laurentian Bank of Canada’s payout ratio is currently 66.20%.

About Laurentian Bank of Canada

Laurentian Bank of Canada provides personal banking, business banking and real estate and commercial financing to its personal, business, and institutional customers across Canada and the United States. The company reports three operating segments: personal, business services, and capital markets. The personal segment offers financial services to retail clients.