Laurentian Bank of Canada (LB) Given New C$59.00 Price Target at Desjardins

Laurentian Bank of Canada (TSE:LB) had its price target cut by Desjardins from C$60.00 to C$59.00 in a research note released on Wednesday morning.

A number of other equities analysts have also commented on LB. CIBC lifted their price objective on Laurentian Bank of Canada from C$61.00 to C$66.00 in a research note on Monday, November 13th. National Bank Financial lifted their price objective on Laurentian Bank of Canada from C$58.00 to C$59.00 and gave the stock a sector perform rating in a research note on Wednesday, August 30th. Barclays dropped their price objective on Laurentian Bank of Canada from C$58.00 to C$57.00 in a research note on Friday, August 11th. Canaccord Genuity lifted their price objective on Laurentian Bank of Canada from C$61.00 to C$63.00 and gave the stock a buy rating in a research note on Wednesday, August 30th. Finally, BMO Capital Markets lifted their price objective on Laurentian Bank of Canada from C$56.00 to C$57.00 and gave the stock a market perform rating in a research note on Wednesday, August 30th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of C$60.90.

Shares of Laurentian Bank of Canada (TSE:LB) traded down C$0.73 during trading hours on Wednesday, hitting C$55.27. The company’s stock had a trading volume of 1,313,885 shares, compared to its average volume of 133,085. Laurentian Bank of Canada has a 12 month low of C$51.57 and a 12 month high of C$62.90.

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Tuesday, January 2nd will be paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 4.56%. This is a positive change from Laurentian Bank of Canada’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Friday, December 29th. 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.

Analyst Recommendations for Laurentian Bank of Canada (TSE:LB)

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