Laurentian Bank of Canada (LB) Upgraded to Outperform at BMO Capital Markets

Cornelia Mascio
Dicembre 8, 2017

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. now owns 32,981,480 shares of the financial services provider's stock valued at $2,391,817,000 after acquiring an additional 1,303,290 shares during the period. Jarislowsky Fraser Ltd raised its stake in shares of Royal Bank Of Canada by 0.8% in the 3rd quarter. Over the last half-year, shares have changed 15.38%. TD Asset Management Inc. raised its stake in shares of Royal Bank Of Canada by 1.1% in the 3rd quarter. Tracking performance over the last 5 sessions, shares have moved 4.01%. Highstreet Asset Management Inc. now owns 867,803 shares of the financial services provider's stock worth $67,143,000 after buying an additional 21,848 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Royal Bank Of Canada by 65.5% during the 2nd quarter.

Shares of Laurentian Bank of Canada (TSE LB) traded down C$0.73 during trading hours on Wednesday, hitting C$55.27. The stock had a trading volume of 1,313,885 shares, compared to its average volume of 133,085. Laurentian Bank of Canada has a 12-month low of $47.67 and a 12-month high of $61.67. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.14. The stock has a market cap of $115,447.28, a price-to-earnings ratio of 13.77, a P/E/G ratio of 1.79 and a beta of 1.07. The ex-dividend date is Friday, December 29th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 3.61%. Royal Bank Of Canada's dividend payout ratio (DPR) is presently 49.83%. Howard Weil lowered Royal Bank Of Canada to a "sector perform" rating in a research note on Monday, August 21st.

BMO Capital Markets upgraded shares of Laurentian Bank of Canada (TSE:LB) from a market perform rating to an outperform rating in a research report sent to investors on Wednesday morning. Finally, National Bank Financial raised their price objective on Laurentian Bank of Canada from C$58.00 to C$59.00 and gave the company a sector perform rating in a report on Wednesday, August 30th. ValuEngine upgraded shares of National Bank of Canada from a "buy" rating to a "strong-buy" rating in a research note on Thursday, September 7th.

Several other analysts also recently issued reports on the stock. BMO Capital Markets now has C$62.00 target price on the stock, up from their previous target price of C$57.00.

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Royal Bank of Canada (RBC), is a diversified financial services company. It operates in three business segments, personal and commercial, wealth management, and financial markets. The Company serves personal, business, public sector and institutional clients in Canada, the United States and approximately 40 other countries.

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