Laurentian Bank of Canada (TSE:LB) Director Jonathan I. Wener bought 2,200 shares of the business’s stock in a transaction dated Monday, December 10th. The stock was bought at an average cost of C$38.66 per share, for a total transaction of C$85,052.00.
Shares of TSE:LB opened at C$38.64 on Friday. Laurentian Bank of Canada has a 1 year low of C$36.21 and a 1 year high of C$56.88.
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 1st. Stockholders of record on Friday, February 1st will be issued a dividend of $0.65 per share. This is an increase from Laurentian Bank of Canada’s previous quarterly dividend of $0.64. This represents a $2.60 dividend on an annualized basis and a dividend yield of 6.73%. The ex-dividend date is Monday, December 31st. Laurentian Bank of Canada’s dividend payout ratio is presently 49.80%.
LB has been the topic of a number of recent research reports. National Bank Financial cut their target price on Laurentian Bank of Canada from C$45.00 to C$41.00 and set a “sector perform” rating on the stock in a research note on Thursday, December 6th. Canaccord Genuity cut their target price on Laurentian Bank of Canada from C$44.00 to C$40.00 in a research note on Thursday, November 22nd. Barclays cut their target price on Laurentian Bank of Canada from C$52.00 to C$49.00 in a research note on Wednesday, September 5th. Royal Bank of Canada cut their target price on Laurentian Bank of Canada from C$56.00 to C$51.00 and set a “sector perform” rating on the stock in a research note on Thursday, December 6th. Finally, BMO Capital Markets cut Laurentian Bank of Canada from an “outperform” rating to a “market perform” rating and cut their target price for the stock from C$57.00 to C$50.00 in a research note on Wednesday, September 5th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of C$46.64.
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About Laurentian Bank of Canada
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.
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