Laurentian Bank of Canada (LB) Announces Quarterly Earnings Results

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Laurentian Bank of Canada (TSE:LB) released its quarterly earnings data on Tuesday. The company reported C$1.34 earnings per share (EPS) for the quarter, missing the consensus estimate of C$1.47 by C($0.13), reports. The business had revenue of C$260.66 million for the quarter, compared to analysts’ expectations of C$267.51 million. Laurentian Bank of Canada had a return on equity of 11.79% and a net margin of 21.88%.

Shares of LB stock opened at C$43.35 on Thursday. Laurentian Bank of Canada has a twelve month low of C$43.06 and a twelve month high of C$62.90.

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 1st. Stockholders of record on Monday, October 1st will be paid a $0.64 dividend. The ex-dividend date of this dividend is Friday, September 28th. This represents a $2.56 annualized dividend and a dividend yield of 5.91%.

Several brokerages have recently weighed in on LB. BMO Capital Markets downgraded shares of Laurentian Bank of Canada from an “outperform” rating to a “market perform” rating and decreased their target price for the company from C$57.00 to C$50.00 in a research note on Wednesday. Cormark decreased their target price on shares of Laurentian Bank of Canada from C$53.00 to C$45.00 in a research note on Wednesday. Barclays decreased their target price on shares of Laurentian Bank of Canada from C$52.00 to C$49.00 in a research note on Wednesday. CIBC decreased their target price on shares of Laurentian Bank of Canada from C$49.00 to C$47.00 in a research note on Wednesday. Finally, National Bank Financial decreased their target price on shares of Laurentian Bank of Canada from C$48.00 to C$45.00 and set a “sector perform” rating for the company in a research note on Wednesday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. Laurentian Bank of Canada presently has a consensus rating of “Hold” and an average price target of C$50.91.

Laurentian Bank of Canada Company Profile

Laurentian Bank of Canada, together with its subsidiaries, provides banking services to individuals, small and medium-sized enterprises, and independent advisors in Canada and the United States. It operates through four segments: Retail Services, Business Services, B2B Bank, and Capital Markets. The company offers transactional products and current accounts, term deposits, and investment accounts; personal line of credit, personal loans, student loans, and registered retirement savings plans; financing for agriculture, real estate, and commercial industries, as well as small and medium-sized enterprises; mortgage solutions, such as variable-rate mortgage, fixed-rate mortgage, equity line of credit, mortgage insurance, and retirement line of credit; and credit and business cards, as well as equipment finance and leasing solutions.

Read More: Return on Investment (ROI)

Earnings History for Laurentian Bank of Canada (TSE:LB)

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