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Laurentian Bank of Canada T.LB

Alternate Symbol(s):  LRCDF | LAUCF | T.LB.PR.H

Laurentian Bank of Canada (the Bank) is a Canada-based provider of financial services to its personal, commercial and institutional customers. The Bank operates in Canada and the United States. Its segments include Personal Banking, Commercial Banking and Capital Markets. The Personal Banking segment caters to the financial needs of retail clients. The Commercial Banking segment caters to the financial needs of business clients across Canada and in the United States and provides commercial banking, real estate financing, and equipment and inventory financing. The Capital Markets segment provides a range of services, including research, market analysis and advisory services, corporate underwriting for debt and equity, and administrative services. The Bank's clients can access its offering of financial advice, products and services through a network of branches in Quebec. The Bank offers a digital direct-to-customer platform to all Canadians. The Bank has approximately 57 branches.


TSX:LB - Post by User

Bullboard Posts
Post by BudFox198777777on Dec 10, 2018 11:53am
154 Views
Post# 29091895

Recent write-up on Motley Fool

Recent write-up on Motley FoolNelson Smith | December 2, 2018

Laurentian Bank

Canada’s Big Five banks get all the attention — perhaps rightfully so — but investors who look past these behemoths can find some interesting bargains.

Laurentian Bank of Canada (TSX:LB) is one such value stock. Shares currently trade hands at $41.70 each, even though the company earned $5.40 per share over the last 12 months. That gives the company a P/E ratio of just 7.7, which is one of the lowest in Canada. Laurentian also trades at less than book value, another important value metric when looking at bank shares.

This company does have some issues, but they’re not the end of the world. It was forced to buy back certain mortgages after an investigation revealed some of the borrowers may have falsified some data. It is trying to cut back branches, a move resisted by its unionized workforce. And management has made the choice to prioritize balance sheet management over growth for the next few quarters, which will likely impede earnings growth.

But investors are getting a heck of a prize to wait — a 6.1% dividend that’s well covered by earnings. The payout has almost doubled in the last 10 years and the payout ratio is a little less than 50% of earnings. This means dividend growth is likely to continue, even if earnings don’t accelerate at the same pace.

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