Q3 2023 Earnings Estimate for Laurentian Bank of Canada Issued By Raymond James (TSE:LB)

Posted by on Jul 17th, 2023

Laurentian Bank of Canada (TSE:LB – Free Report) – Equities researchers at Raymond James issued their Q3 2023 earnings estimates for Laurentian Bank of Canada in a research report issued to clients and investors on Thursday, July 13th. Raymond James analyst S. Boland expects that the company will post earnings per share of $1.17 for the quarter. Raymond James currently has a “Market Perform” rating and a $36.00 target price on the stock. The consensus estimate for Laurentian Bank of Canada’s current full-year earnings is $5.10 per share. Raymond James also issued estimates for Laurentian Bank of Canada’s Q4 2023 earnings at $1.32 EPS, FY2023 earnings at $4.80 EPS, Q1 2024 earnings at $1.18 EPS, Q2 2024 earnings at $1.29 EPS, Q3 2024 earnings at $1.27 EPS, Q4 2024 earnings at $1.41 EPS and FY2024 earnings at $5.16 EPS.

Laurentian Bank of Canada (TSE:LB – Get Free Report) last announced its quarterly earnings results on Thursday, June 1st. The company reported C$1.16 EPS for the quarter, beating the consensus estimate of C$1.14 by C$0.02. Laurentian Bank of Canada had a net margin of 21.97% and a return on equity of 7.69%. The company had revenue of C$257.17 million for the quarter, compared to analyst estimates of C$261.70 million.

A number of other research analysts have also commented on LB. CSFB lowered shares of Laurentian Bank of Canada from an “outperform” rating to a “neutral” rating and raised their price objective for the company from C$33.00 to C$44.00 in a research note on Thursday. Barclays decreased their price target on shares of Laurentian Bank of Canada from C$36.00 to C$34.00 in a research report on Tuesday, May 9th. Veritas Investment Research restated a “buy” rating on shares of Laurentian Bank of Canada in a research report on Wednesday, July 12th. CIBC upgraded shares of Laurentian Bank of Canada from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from C$37.00 to C$60.00 in a research report on Thursday. Finally, National Bank Financial upgraded shares of Laurentian Bank of Canada from a “sector perform market weight” rating to an “outperform market weight” rating in a research report on Wednesday, July 12th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of C$43.17.

Laurentian Bank of Canada Trading Up 1.6 %

Shares of TSE:LB opened at C$43.10 on Monday. The firm’s 50 day moving average is C$32.75 and its two-hundred day moving average is C$33.14. Laurentian Bank of Canada has a 52 week low of C$28.23 and a 52 week high of C$48.23. The firm has a market capitalization of C$1.87 billion, a P/E ratio of 9.33, a PEG ratio of 0.76 and a beta of 1.17.

Laurentian Bank of Canada Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 1st. Investors of record on Tuesday, August 1st will be paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 4.36%. The ex-dividend date of this dividend is Friday, June 30th. This is a positive change from Laurentian Bank of Canada’s previous quarterly dividend of $0.46. Laurentian Bank of Canada’s payout ratio is presently 40.69%.

About Laurentian Bank of Canada

(Get Free Report)

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 Personal Banking segment offers financial services, such as financial advisory services to financial intermediaries; and operates digital direct-to-customer platform to retail clients.

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

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