National Bank of Canada (TSE:NA) Receives C$122.64 Average Target Price from Brokerages

Shares of National Bank of Canada (TSE:NA) have been assigned a consensus rating of “Hold” from the thirteen analysts that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, ten have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is C$122.64.

Several research firms have recently commented on NA. Scotiabank raised their price objective on National Bank of Canada from C$120.00 to C$129.00 in a research note on Thursday, August 29th. CIBC downgraded shares of National Bank of Canada from an “outperform” rating to a “neutral” rating in a report on Friday, September 20th. Cibc World Mkts cut shares of National Bank of Canada from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 20th. Desjardins lifted their target price on shares of National Bank of Canada from C$116.00 to C$118.00 and gave the company a “hold” rating in a research note on Tuesday, August 6th. Finally, Royal Bank of Canada upped their target price on shares of National Bank of Canada from C$113.00 to C$116.00 in a report on Thursday, August 29th.

National Bank of Canada Stock Performance

Shares of TSE:NA opened at C$131.32 on Wednesday. The stock’s 50-day simple moving average is C$124.52 and its two-hundred day simple moving average is C$116.74. The stock has a market capitalization of C$44.70 billion, a price-to-earnings ratio of 12.79, a PEG ratio of 7.14 and a beta of 1.12. National Bank of Canada has a 52-week low of C$84.27 and a 52-week high of C$132.67.

National Bank of Canada (TSE:NA) last issued its quarterly earnings data on Wednesday, August 28th. The financial services provider reported C$2.68 earnings per share for the quarter, topping the consensus estimate of C$2.50 by C$0.18. The firm had revenue of C$2.98 billion for the quarter, compared to analysts’ expectations of C$2.95 billion. National Bank of Canada had a net margin of 34.50% and a return on equity of 15.18%. As a group, equities analysts forecast that National Bank of Canada will post 10.8360791 earnings per share for the current fiscal year.

National Bank of Canada Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Monday, September 30th will be issued a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 3.35%. The ex-dividend date of this dividend is Friday, September 27th. National Bank of Canada’s dividend payout ratio is presently 42.84%.

Insiders Place Their Bets

In other National Bank of Canada news, Director Yvon Charest purchased 325 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were bought at an average price of C$117.24 per share, with a total value of C$38,103.00. Corporate insiders own 0.21% of the company’s stock.

About National Bank of Canada

National Bank of Canada provides financial services to individuals, businesses, institutional clients, and governments in Canada and internationally. It operates through four segments: Personal and Commercial, Wealth Management, Financial Markets, and U.S. Specialty Finance and International. The Personal and Commercial segment offers personal banking services, including transaction solutions, mortgage loans and home equity lines of credit, consumer loans, payment solutions, and savings and investment solutions; various insurance products; and commercial banking services, such as credit, and deposit, investment solutions, international trade, foreign exchange transactions, payroll, cash management, insurance, electronic transactions, and complimentary services.