National Bank of Canada (TSE:NA) Rating Lowered to Hold at Cibc World Mkts

Cibc World Mkts downgraded shares of National Bank of Canada (TSE:NA) from a strong-buy rating to a hold rating in a research report report published on Friday, Zacks.com reports.

Other research analysts have also recently issued research reports about the stock. Jefferies Financial Group upped their target price on shares of National Bank of Canada from C$119.00 to C$126.00 in a research report on Thursday, August 29th. Canaccord Genuity Group boosted their price target on National Bank of Canada from C$113.00 to C$123.00 in a research report on Thursday, August 29th. Scotiabank raised their price target on National Bank of Canada from C$120.00 to C$129.00 in a report on Thursday, August 29th. Cormark upped their price objective on shares of National Bank of Canada from C$122.00 to C$128.00 in a report on Thursday, August 29th. Finally, BMO Capital Markets increased their target price on shares of National Bank of Canada from C$115.00 to C$125.00 in a research report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, National Bank of Canada has an average rating of Hold and a consensus target price of C$122.64.

National Bank of Canada Trading Up 0.2 %

Shares of National Bank of Canada stock opened at C$127.48 on Friday. National Bank of Canada has a twelve month low of C$84.27 and a twelve month high of C$128.37. The stock has a market capitalization of C$43.39 billion, a price-to-earnings ratio of 12.41, a PEG ratio of 17.04 and a beta of 1.12. The business’s 50 day simple moving average is C$118.84 and its 200-day simple moving average is C$114.55.

National Bank of Canada (TSE:NA) last posted its earnings results on Wednesday, August 28th. The financial services provider reported C$2.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$2.50 by C$0.18. The company 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 return on equity of 15.18% and a net margin of 34.50%. Sell-side analysts predict that National Bank of Canada will post 10.8549488 earnings per share for the current year.

National Bank of Canada Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Monday, September 30th will be given a $1.10 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $4.40 annualized dividend and a yield of 3.45%. National Bank of Canada’s dividend payout ratio (DPR) is 42.84%.

Insider Activity

In related news, Director Yvon Charest acquired 325 shares of the business’s stock in a transaction on Monday, August 19th. The shares were purchased at an average price of C$117.24 per share, for a total transaction of C$38,103.00. 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.