Laurentian Bank of Canada (TSE:LB – Get Rating) – Equity research analysts at Desjardins have raised their earnings per share (EPS) estimates for fiscal 2023 for Laurentian Bank of Canada shares in a note released to investors on Monday, May 9. Desjardins analyst D. Young now expects the company to earn $5.17 per share for the year, up from his previous forecast of $5.15.

Several other brokerages also commented on LB. Veritas Investment Research reaffirmed a “sell” rating on Laurentian Bank of Canada shares in a Thursday, Feb. 10 research note. National Bankshares raised its price target on Laurentian Bank of Canada from C$47.00 to C$49.00 in a Wednesday, February 23 research note. TD Securities raised its price target on Laurentian Bank of Canada from C$46.00 to C$50.00 in a Tuesday, February 15 research note. Scotiabank lowered its price target on Laurentian Bank of Canada from C$50.00 to C$46.00 in a Wednesday, April 13 research note. Finally, CIBC lowered its price target on Laurentian Bank of Canada from CA$48.00 to CA$44.00 and set a “neutral” rating to the stock in a Monday, April 11 research note. . Two equity research analysts gave the stock a sell rating, six gave the stock a hold rating and one gave the stock a buy rating. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of C$46.80.

Shares of TSE:LB opened at C$37.83 on Wednesday. Laurentian Bank of Canada has a 1-year low of C$36.54 and a 1-year high of C$45.29. The company has a market capitalization of C$1.64 billion and a PE ratio of 30.43. The company’s 50-day moving average is C$41.16 and its 200-day moving average is C$41.54.

Laurentian Bank of Canada (TSE:LB – Get Rating) last reported quarterly earnings data on Wednesday, March 2. The company reported earnings per share of C$1.26 for the quarter, beating the consensus estimate of C$1.22 by C$0.04. The company posted revenue of C$257.54 million for the quarter, compared to analyst estimates of C$254.10 million.

The company also recently disclosed a quarterly dividend, which was paid on Sunday, May 1. Shareholders of record on Friday, April 1 received a dividend of $0.44. This represents a dividend of $1.76 on an annualized basis and a yield of 4.65%. The ex-dividend date was Thursday, March 31. Laurentian Bank of Canada’s dividend payout ratio is currently 141.59%.

Profile of Laurentian Bank of Canada (Get a rating)

Laurentian Bank of Canada, together with its subsidiaries, offers various financial services to individuals, businesses and institutional clients 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 and personal mortgages; financing of real estate, equipment and inventory; and life and disability insurance products.

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