Desjardins Has Bullish Estimate for TSE:NA FY2024 Earnings

National Bank of Canada (TSE:NA) – Research analysts at Desjardins upped their FY2024 EPS estimates for shares of National Bank of Canada in a note issued to investors on Friday, November 1st. Desjardins analyst D. Young now anticipates that the financial services provider will post earnings of $10.40 per share for the year, up from their prior forecast of $10.35. Desjardins has a “Hold” rating and a $118.00 price objective on the stock. The consensus estimate for National Bank of Canada’s current full-year earnings is $10.84 per share. Desjardins also issued estimates for National Bank of Canada’s Q4 2024 earnings at $2.59 EPS and FY2026 earnings at $11.45 EPS.

Several other equities analysts have also recently commented on the stock. Cormark boosted their target price on shares of National Bank of Canada from C$122.00 to C$128.00 in a research report on Thursday, August 29th. CIBC cut shares of National Bank of Canada from an “outperform” rating to a “neutral” rating in a research report on Friday, September 20th. Canaccord Genuity Group boosted their target price on shares of National Bank of Canada from C$113.00 to C$123.00 in a research report on Thursday, August 29th. Scotiabank boosted their target price on shares of National Bank of Canada from C$120.00 to C$129.00 in a research report on Thursday, August 29th. Finally, BMO Capital Markets upped their price objective 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 given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of C$122.64.

National Bank of Canada Trading Up 0.2 %

Shares of TSE:NA opened at C$132.40 on Monday. The firm has a 50 day moving average of C$127.77 and a 200-day moving average of C$118.10. The stock has a market capitalization of C$45.07 billion, a PE ratio of 12.89, a PEG ratio of 7.14 and a beta of 1.12. National Bank of Canada has a 12 month low of C$86.96 and a 12 month high of C$134.23.

National Bank of Canada (TSE:NA) last issued its earnings results on Wednesday, August 28th. The financial services provider reported C$2.68 EPS for the quarter, beating the consensus estimate of C$2.50 by C$0.18. The company had revenue of C$2.98 billion during the quarter, compared to analysts’ expectations of C$2.95 billion. National Bank of Canada had a net margin of 34.50% and a return on equity of 15.18%.

Insiders Place Their Bets

In other National Bank of Canada news, Director Yvon Charest bought 325 shares of National Bank of Canada stock in a transaction on Monday, August 19th. The shares were purchased at an average cost of C$117.24 per share, with a total value of C$38,103.00. Insiders own 0.21% of the company’s stock.

National Bank of Canada Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, September 30th were issued a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date of this dividend was Friday, September 27th. National Bank of Canada’s payout ratio is 42.84%.

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.