National Bank of Canada (TSE:NA) Receives C$122.64 Average PT from Brokerages

National Bank of Canada (TSE:NA) has been given an average recommendation of “Hold” by the thirteen brokerages that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, ten have given a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is C$122.64.

NA has been the subject of several analyst reports. Scotiabank boosted their price objective on National Bank of Canada from C$120.00 to C$129.00 in a research report on Thursday, August 29th. Cibc World Mkts cut National Bank of Canada from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 20th. Canaccord Genuity Group increased their price target on National Bank of Canada from C$113.00 to C$123.00 in a research note on Thursday, August 29th. Cormark increased their price target on National Bank of Canada from C$122.00 to C$128.00 in a research note on Thursday, August 29th. Finally, CIBC cut National Bank of Canada from an “outperform” rating to a “neutral” rating in a research note on Friday, September 20th.

National Bank of Canada Stock Up 0.4 %

Shares of TSE NA opened at C$131.11 on Wednesday. The firm’s 50-day moving average price is C$125.20 and its two-hundred day moving average price is C$116.96. National Bank of Canada has a 52-week low of C$84.27 and a 52-week high of C$132.67. The stock has a market capitalization of C$44.63 billion, a P/E ratio of 12.77, a P/E/G ratio of 7.14 and a beta of 1.12.

National Bank of Canada (TSE:NA) last issued its earnings results on Wednesday, August 28th. The financial services provider reported C$2.68 earnings per share (EPS) for the quarter, topping 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 firm had revenue of C$2.98 billion for the quarter, compared to analysts’ expectations of C$2.95 billion. As a group, equities research analysts expect that National Bank of Canada will post 10.8360791 earnings per share for the current year.

National Bank of Canada Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Monday, September 30th will be paid a dividend of $1.10 per share. The ex-dividend date is Friday, September 27th. This represents a $4.40 annualized dividend and a yield of 3.36%. National Bank of Canada’s dividend payout ratio is currently 42.84%.

Insider Activity at National Bank of Canada

In related news, Director Yvon Charest bought 325 shares of National Bank of Canada stock in a transaction dated Monday, August 19th. The stock was acquired at an average cost of C$117.24 per share, with a total value of C$38,103.00. Company 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.