National Bank of Canada (TSE:NA) Price Target Cut to C$116.00

National Bank of Canada (TSE:NA) had its price objective decreased by equities research analysts at Scotiabank from C$119.00 to C$116.00 in a note issued to investors on Tuesday, BayStreet.CA reports. The brokerage presently has a “hold” rating on the financial services provider’s stock. Scotiabank’s target price would indicate a potential upside of 8.48% from the company’s previous close.

Other equities analysts also recently issued reports about the stock. CIBC raised their target price on shares of National Bank of Canada from C$109.00 to C$124.00 and gave the company an “outperform” rating in a report on Thursday, May 30th. Royal Bank of Canada raised their target price on shares of National Bank of Canada from C$109.00 to C$113.00 and gave the company a “sector perform” rating in a report on Thursday, May 30th. TD Securities raised their target price on shares of National Bank of Canada from C$118.00 to C$121.00 in a report on Friday, May 10th. Canaccord Genuity Group raised their price target on shares of National Bank of Canada from C$109.00 to C$117.00 and gave the stock a “hold” rating in a research note on Thursday, May 30th. Finally, BMO Capital Markets decreased their price target on shares of National Bank of Canada from C$121.00 to C$115.00 and set an “outperform” rating on the stock in a research note on Tuesday. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, National Bank of Canada currently has an average rating of “Hold” and an average target price of C$113.92.

National Bank of Canada Stock Down 0.5 %

Shares of NA opened at C$106.93 on Tuesday. The company has a 50-day simple moving average of C$113.23 and a 200-day simple moving average of C$107.35. The company has a market capitalization of C$36.34 billion, a PE ratio of 11.26, a P/E/G ratio of 17.04 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$118.77.

Insider Buying and Selling

In related news, Director Yvon Charest bought 324 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were acquired at an average cost of C$116.20 per share, with a total value of C$37,648.80. Corporate insiders own 0.20% of the company’s stock.

National Bank of Canada Company Profile

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.