Bullish options flow was detected in LB stock on December 5, 2019.

Bullish options flow detected in LB stock on December 5, 2019.

25,330 calls trading, 8x expected, and implied vol increasing over 7 points to 54.70%. 12/13 weekly 20 calls and 12/13 weekly 19 calls are the most active options, with total volume in those strikes near 20,100 contracts.

On December 4, 2019, Laurentian Bank Financial Group reported net income of $41.3 million and diluted earnings per share of $0.90 for the fourth quarter of 2019, compared with $50.8 million and $1.13 for the fourth quarter of 2018. Return on common shareholders’ equity was 6.6% for the fourth quarter of 2019, compared with 8.4% for the fourth quarter of 2018. On an adjusted basis, net income was $48.0 million and diluted earnings per share were $1.05 for the fourth quarter of 2019, down 12% and 14% respectively, compared with $54.3 million and $1.22 for the fourth quarter of 2018. Adjusted return on common shareholders’ equity was 7.8% for the fourth quarter of 2019, compared with 9.0% a year ago. Reported results include adjusting items, as detailed in the Non-GAAP and Key Performance Measures section.

For the year ended October 31, 2019, net income was $172.7 million and diluted earnings per share were $3.77, compared with $224.6 million and $5.10 for the year ended October 31, 2018. Return on common shareholders’ equity was 7.0% for the year ended October 31, 2019, compared with 9.7% for the year ended October 31, 2018. On an adjusted basis, net income was $193.2 million and diluted earnings per share were $4.26 for the year ended October 31, 2019, down 20% and 23% respectively, compared with $241.6 million and $5.51 for the year ended October 31, 2018. Adjusted return on common shareholders’ equity was 7.9% for the year ended October 31, 2019, compared with 10.5% for the same period a year ago.

François Desjardins, President and Chief Executive Officer, commented on the 2019 results: “During 2019, we moved ahead with several strategic initiatives: we changed our main banking system, we converted our branches to focus 100% on financial advice and we launched digital products to meet everyday personal banking needs across Canada. All customers are now able to open, with straight through, on-the-spot processing, chequing, high interest savings and GIC accounts, using their mobile devices.”

“The most significant event of the year was the establishment of a new labour relations environment. The team worked through difficult and costly union negotiations with resolve which resulted in a redefined bargaining unit and the ratification of a new collective agreement. This is a strategic foundational change because there is nothing more strategic than a culture of performance.”

M. Desjardins concluded: “Transformation continues, but the heavy lifting is coming to an end. As we look forward, 2020 will be the year when we complete major initiatives and focus on growth so that we are well-positioned to achieve our medium-term objectives. 2020 will also set the stage for 2021 – our 175th anniversary – and the beginning of a new era for LBCFG.”

At its meeting held on December 3, 2019, the Board of Directors of the Laurentian Bank of Canada (TSX: LB) (the “Bank”) declared a regular quarterly dividend of 67 cents per share on the common shares payable on February 1, 2020 to the holders of record at the close of business on January 2, 2020.

The above-mentioned dividend on the common shares is designated as an eligible dividend for the purposes of the Income Tax Act (Canada) and any similar provincial and territorial legislation.

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