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

Laurentian Bank of Canada (TSE:LB) declared a quarterly dividend on Friday, March 7th, TickerTech Dividends reports. Stockholders of record on Saturday, March 15th will be given a dividend of 0.47 per share on Saturday, March 15th. This represents a $1.88 annualized dividend and a dividend yield of 7.04%. The ex-dividend date of this dividend is Friday, March 7th.

Laurentian Bank of Canada Price Performance

LB stock traded up C$0.04 during trading on Wednesday, hitting C$26.69. 41,129 shares of the stock traded hands, compared to its average volume of 193,330. The stock has a market cap of C$1.17 billion, a price-to-earnings ratio of -212.87, a price-to-earnings-growth ratio of 0.76 and a beta of 1.25. Laurentian Bank of Canada has a 1 year low of C$24.45 and a 1 year high of C$31.74. The firm’s 50 day moving average is C$28.26 and its two-hundred day moving average is C$27.70.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on LB shares. Jefferies Financial Group upped their price objective on Laurentian Bank of Canada from C$29.00 to C$30.00 and gave the company a “hold” rating in a research report on Monday, December 9th. CIBC increased their price objective on Laurentian Bank of Canada from C$28.00 to C$31.00 in a research report on Tuesday, November 26th. National Bankshares upped their target price on shares of Laurentian Bank of Canada from C$25.00 to C$27.00 and gave the company an “underperform” rating in a research note on Monday, December 9th. BMO Capital Markets dropped their price target on shares of Laurentian Bank of Canada from C$31.00 to C$30.00 in a report on Monday. Finally, Scotiabank decreased their price objective on shares of Laurentian Bank of Canada from C$33.00 to C$28.00 and set a “sector perform” rating for the company in a report on Thursday, February 20th. Three investment analysts have rated the stock with a sell rating and five have issued a hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of C$28.00.

About Laurentian Bank of Canada

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.