Brokers Set Expectations for Laurentian Bank of Canada’s FY2022 Earnings (TSE:LB)
Laurentian Bank of Canada (TSE:LB – Get Rating) – Stock analysts at Cormark raised their FY2022 earnings estimates for shares of Laurentian Bank of Canada in a research report issued to clients and investors on Friday, May 20th. Cormark analyst L. Persaud now forecasts that the company will post earnings of $5.08 per share for the year, up from their prior estimate of $5.01. Cormark has a “Neutral” rating and a $47.00 price objective on the stock. Cormark also issued estimates for Laurentian Bank of Canada’s FY2023 earnings at $5.30 EPS.
LB has been the topic of a number of other research reports. Barclays lowered their price target on Laurentian Bank of Canada from C$46.00 to C$40.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 11th. CIBC lowered their price target on Laurentian Bank of Canada from C$44.00 to C$41.00 in a research report on Tuesday, May 17th. TD Securities raised their price target on Laurentian Bank of Canada from C$46.00 to C$50.00 in a research report on Tuesday, February 15th. CSFB set a C$39.00 price objective on Laurentian Bank of Canada and gave the stock an “underperform” rating in a report on Friday. Finally, Veritas Investment Research reiterated a “sell” rating on shares of Laurentian Bank of Canada in a report on Thursday, February 10th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of C$45.00.
Shares of LB stock opened at C$37.04 on Monday. Laurentian Bank of Canada has a 52-week low of C$36.54 and a 52-week high of C$45.29. The company has a market capitalization of C$1.60 billion and a PE ratio of 29.80. The business’s fifty day moving average is C$40.43 and its 200 day moving average is C$41.32.
Laurentian Bank of Canada (TSE:LB – Get Rating) last announced its quarterly earnings data on Wednesday, March 2nd. The company reported C$1.26 earnings per share for the quarter, beating the consensus estimate of C$1.22 by C$0.04. The firm had revenue of C$257.54 million for the quarter, compared to the consensus estimate of C$254.10 million.
The business also recently announced a quarterly dividend, which was paid on Sunday, May 1st. Shareholders of record on Friday, April 1st were paid a dividend of $0.44 per share. The ex-dividend date of this dividend was Thursday, March 31st. This represents a $1.76 dividend on an annualized basis and a yield of 4.75%. Laurentian Bank of Canada’s dividend payout ratio is presently 131.94%.
About Laurentian Bank of Canada (Get Rating)
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 company offers notice, demand, and term deposits; commercial, residential mortgage, and personal loans; real estate, and equipment and inventory financing; and credit life and disability insurance products.
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