National Bankshares Forecasts Strong Price Appreciation for IGM Financial (TSE:IGM) Stock

IGM Financial (TSE:IGM) had its price target upped by National Bankshares from C$47.00 to C$50.00 in a research note released on Wednesday, BayStreet.CA reports. National Bankshares currently has an outperform rating on the financial services provider’s stock.

Several other research analysts have also commented on the stock. Jefferies Financial Group raised their price target on shares of IGM Financial from C$38.00 to C$39.00 and gave the company a “buy” rating in a report on Monday, July 29th. BMO Capital Markets cut their target price on shares of IGM Financial from C$40.00 to C$39.00 in a research note on Friday, August 9th. Royal Bank of Canada lifted their target price on shares of IGM Financial from C$46.00 to C$47.00 in a report on Thursday, August 8th. Finally, Scotiabank increased their price target on IGM Financial from C$45.00 to C$46.00 in a report on Wednesday, July 24th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of C$45.00.

IGM Financial Trading Up 1.0 %

IGM stock opened at C$42.25 on Wednesday. The company has a quick ratio of 0.31, a current ratio of 2.12 and a debt-to-equity ratio of 35.99. The company has a market cap of C$10.00 billion, a price-to-earnings ratio of 11.90, a PEG ratio of 4.09 and a beta of 1.53. The business has a fifty day simple moving average of C$40.48 and a 200-day simple moving average of C$38.26. IGM Financial has a 52 week low of C$31.89 and a 52 week high of C$43.07.

IGM Financial (TSE:IGM) last announced its quarterly earnings results on Wednesday, August 7th. The financial services provider reported C$0.93 EPS for the quarter, missing the consensus estimate of C$0.95 by C($0.02). The firm had revenue of C$816.31 million for the quarter, compared to analyst estimates of C$826.00 million. IGM Financial had a return on equity of 12.80% and a net margin of 29.47%. On average, equities research analysts expect that IGM Financial will post 4.006816 EPS for the current year.

IGM Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Thursday, October 31st were paid a dividend of $0.563 per share. This represents a $2.25 annualized dividend and a yield of 5.33%. The ex-dividend date was Friday, September 27th. IGM Financial’s dividend payout ratio (DPR) is 63.38%.

About IGM Financial

IGM Financial Inc operates as a wealth and asset management company in Canada. It operates through Wealth Management and Asset Management segments. The Wealth Management segment offers investments that are focused on providing financial planning and related services; and provides mutual fund management and discretionary portfolio management services.