Laurentian Bank of Canada (TSE:LB) Hits New 1-Year Low – What’s Next?

Laurentian Bank of Canada (TSE:LB) hit a new 52-week low on Monday . The stock traded as low as C$24.37 and last traded at C$24.68, with a volume of 80347 shares. The stock had previously closed at C$25.61.

Analysts Set New Price Targets

Several research firms recently issued reports on LB. Scotiabank cut their price target 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. Jefferies Financial Group increased their target price on Laurentian Bank of Canada from C$29.00 to C$30.00 and gave the stock a “hold” rating in a research note on Monday, December 9th. National Bankshares lifted their price target on 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 cut their price objective on Laurentian Bank of Canada from C$31.00 to C$30.00 in a research report on Monday, March 3rd. Finally, Raymond James decreased their target price on shares of Laurentian Bank of Canada from C$29.00 to C$27.00 in a research report on Monday, March 3rd. Three investment analysts have rated the stock with a sell rating and five have issued a hold rating to the company. According to MarketBeat, Laurentian Bank of Canada currently has an average rating of “Hold” and an average price target of C$28.00.

Laurentian Bank of Canada Trading Down 1.4 %

The stock has a market cap of C$1.11 billion, a price-to-earnings ratio of -201.39, a P/E/G ratio of 0.76 and a beta of 1.25. The firm’s 50 day moving average is C$27.30 and its two-hundred day moving average is C$27.78.

Laurentian Bank of Canada Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, May 1st will be paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 7.45%. The ex-dividend date of this dividend is Tuesday, April 1st. Laurentian Bank of Canada’s dividend payout ratio is currently -1,499.45%.

Laurentian Bank of Canada Company Profile

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.