National Bank of Canada (TSE:NA – Get Free Report) was downgraded by investment analysts at CIBC from an “outperform” rating to a “neutral” rating in a research report issued on Friday, BayStreet.CA reports.
NA has been the subject of a number of other research reports. Jefferies Financial Group boosted their price objective on shares of National Bank of Canada from C$119.00 to C$126.00 in a research note on Thursday, August 29th. UBS Group set a C$123.00 price objective on National Bank of Canada and gave the company a “buy” rating in a research report on Tuesday, July 2nd. Canaccord Genuity Group boosted their target price on shares of National Bank of Canada from C$113.00 to C$123.00 in a report on Thursday, August 29th. Scotiabank lifted their price objective on shares of National Bank of Canada from C$120.00 to C$129.00 in a research report on Thursday, August 29th. Finally, Desjardins increased 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 report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of C$122.64.
Check Out Our Latest Research Report on National Bank of Canada
National Bank of Canada Stock Down 0.9 %
National Bank of Canada (TSE:NA – Get Free Report) last released its quarterly earnings data on Wednesday, August 28th. The financial services provider reported C$2.68 earnings per share for the quarter, beating the consensus estimate of C$2.50 by C$0.18. National Bank of Canada had a return on equity of 15.18% and a net margin of 34.50%. The firm had revenue of C$2.98 billion during the quarter, compared to the consensus estimate of C$2.95 billion. On average, sell-side analysts anticipate that National Bank of Canada will post 10.7004292 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other National Bank of Canada news, Director Yvon Charest bought 325 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was bought at an average cost of C$117.24 per share, for a total transaction of C$38,103.00. 0.20% of the stock is currently owned by insiders.
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.
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