Laurentian Bank of Canada (TSE:LB)’s share price fell 0.4% on Tuesday . The stock traded as low as C$60.50 and last traded at C$60.80. 182,665 shares were traded during trading, an increase of 46% from the average session volume of 124,693 shares. The stock had previously closed at C$60.53.
Several research firms recently weighed in on LB. Desjardins reduced their target price on shares of Laurentian Bank of Canada from C$60.00 to C$59.00 in a report on Wednesday. Barclays lifted their target price on shares of Laurentian Bank of Canada from C$57.00 to C$62.00 in a report on Wednesday. Royal Bank Of Canada reduced their target price on shares of Laurentian Bank of Canada from C$60.00 to C$55.00 and set a “sector perform” rating on the stock in a report on Wednesday. National Bank Financial lifted their target price on shares of Laurentian Bank of Canada from C$59.00 to C$60.00 and gave the company a “sector perform” rating in a report on Wednesday. Finally, Scotiabank cut their price objective on shares of Laurentian Bank of Canada from C$67.00 to C$64.00 and set a “sector perform” rating on the stock in a report on Wednesday. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Laurentian Bank of Canada presently has a consensus rating of “Hold” and an average target price of C$60.90.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Tuesday, January 2nd will be issued a $0.63 dividend. The ex-dividend date of this dividend is Friday, December 29th. This represents a $2.52 dividend on an annualized basis and a yield of 4.46%. This is a positive change from Laurentian Bank of Canada’s previous quarterly dividend of $0.62. Laurentian Bank of Canada’s payout ratio is currently 55.20%.
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Laurentian Bank of Canada Company Profile
Laurentian Bank of Canada is a Canada-based Chartered bank. The Bank and its subsidiaries provide banking services to individuals, and small and medium-sized enterprises, as well as to independent advisors across Canada. It also operates as a full-service brokerage firm. The Bank’s loan portfolio consists of personal loans, residential mortgage loans, commercial mortgage loans and commercial loans, including acceptances and finance lease receivables.
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