Cibc World Mkts Downgrades National Bank of Canada (TSE:NA) to Hold

National Bank of Canada (TSE:NA) was downgraded by Cibc World Mkts from a “strong-buy” rating to a “hold” rating in a research note issued on Friday, Zacks.com reports.

Other research analysts have also issued reports about the stock. Royal Bank of Canada increased their target price on shares of National Bank of Canada from C$113.00 to C$116.00 in a research note on Thursday, August 29th. Desjardins increased their target price on shares of National Bank of Canada from C$116.00 to C$118.00 and gave the stock a “hold” rating in a research note on Tuesday, August 6th. CIBC lowered shares of National Bank of Canada from an “outperform” rating to a “neutral” rating in a research note on Friday. TD Securities upped their price objective on shares of National Bank of Canada from C$123.00 to C$129.00 in a report on Thursday, August 29th. Finally, Jefferies Financial Group upped their price objective on shares of National Bank of Canada from C$119.00 to C$126.00 in a report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of C$122.64.

National Bank of Canada Stock Performance

TSE:NA opened at C$127.48 on Friday. The firm’s fifty day moving average is C$118.84 and its 200-day moving average is C$114.55. National Bank of Canada has a 52 week low of C$84.27 and a 52 week high of C$128.37. The firm has a market cap of C$43.39 billion, a P/E ratio of 12.41, a P/E/G ratio of 17.04 and a beta of 1.12.

National Bank of Canada (TSE:NA) last posted its quarterly earnings data on Wednesday, August 28th. The financial services provider reported C$2.68 EPS for the quarter, beating analysts’ consensus estimates of C$2.50 by C$0.18. National Bank of Canada had a net margin of 34.50% and a return on equity of 15.18%. The company had revenue of C$2.98 billion for the quarter, compared to analyst estimates of C$2.95 billion. As a group, sell-side analysts anticipate that National Bank of Canada will post 10.8549488 earnings per share for the current year.

Insider Buying and Selling

In other National Bank of Canada news, Director Yvon Charest bought 325 shares of the business’s stock in a transaction on Monday, August 19th. The stock was purchased at an average price of C$117.24 per share, for a total transaction of C$38,103.00. 0.21% of the stock is currently owned by corporate insiders.

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.