Laurentian Bank of Canada (TSE:LB) – Stock analysts at Desjardins dropped their FY2018 earnings per share estimates for shares of Laurentian Bank of Canada in a research report issued on Friday. Desjardins analyst D. Young now forecasts that the company will post earnings per share of $5.95 for the year, down from their prior forecast of $6.01. Desjardins also issued estimates for Laurentian Bank of Canada’s FY2019 earnings at $6.35 EPS.
A number of other research firms have also commented on LB. Canaccord Genuity lifted their price objective on Laurentian Bank of Canada from C$63.00 to C$67.00 in a research note on Wednesday, November 1st. CIBC boosted their price target on Laurentian Bank of Canada from C$61.00 to C$66.00 in a research note on Monday, November 13th. CSFB lowered their price target on Laurentian Bank of Canada from C$57.00 to C$55.00 in a research note on Tuesday, January 9th. Barclays upgraded Laurentian Bank of Canada from an “equal weight” rating to an “outperform” rating in a research note on Tuesday, December 19th. Finally, Scotiabank lowered their price target on Laurentian Bank of Canada from C$67.00 to C$64.00 and set a “sector perform” rating on the stock in a research note on Wednesday, December 6th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of C$58.90.
Laurentian Bank of Canada (TSE:LB) last posted its quarterly earnings data on Tuesday, December 5th. The company reported C$1.63 EPS for the quarter, topping analysts’ consensus estimates of C$1.54 by C$0.09. The business had revenue of C$267.97 million for the quarter, compared to analyst estimates of C$257.83 million. Laurentian Bank of Canada had a return on equity of 11.79% and a net margin of 21.88%.
The company also recently declared a quarterly dividend, which was paid on Thursday, February 1st. Investors of record on Tuesday, January 2nd were paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 4.81%. This is a positive change from Laurentian Bank of Canada’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend was Friday, December 29th. Laurentian Bank of Canada’s payout ratio is currently 45.64%.
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About Laurentian Bank of Canada
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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