National Bank of Canada (TSE:NA) Downgraded by Cibc World Mkts to “Hold”

Cibc World Mkts downgraded shares of National Bank of Canada (TSE:NA) from a strong-buy rating to a hold rating in a research note published on Tuesday,Zacks.com reports.

NA has been the subject of a number of other reports. Jefferies Financial Group dropped their price objective on shares of National Bank of Canada from C$153.00 to C$149.00 in a research note on Tuesday. CIBC cut their target price on shares of National Bank of Canada from C$141.00 to C$135.00 in a research note on Tuesday. Royal Bank of Canada boosted their price target on National Bank of Canada from C$134.00 to C$145.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 8th. UBS Group lowered their price objective on National Bank of Canada from C$150.00 to C$145.00 in a report on Friday, February 14th. Finally, Canaccord Genuity Group boosted their price objective on National Bank of Canada from C$135.00 to C$142.00 in a report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, National Bank of Canada presently has a consensus rating of “Hold” and a consensus price target of C$138.20.

National Bank of Canada Stock Down 0.4 %

Shares of TSE:NA opened at C$123.48 on Tuesday. The firm’s 50-day simple moving average is C$129.93 and its 200-day simple moving average is C$128.46. National Bank of Canada has a fifty-two week low of C$102.90 and a fifty-two week high of C$141.15. The company has a market cap of C$48.14 billion, a price-to-earnings ratio of 10.95, a PEG ratio of 7.14 and a beta of 1.12.

National Bank of Canada Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Saturday, February 1st. Investors of record on Monday, December 30th were paid a dividend of $1.14 per share. This is a boost from National Bank of Canada’s previous quarterly dividend of $1.10. This represents a $4.56 annualized dividend and a yield of 3.69%. The ex-dividend date of this dividend was Monday, December 30th. National Bank of Canada’s dividend payout ratio is presently 39.03%.

Insider Buying and Selling

In other news, Senior Officer Brigitte Hébert sold 400 shares of the business’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of C$132.46, for a total value of C$52,984.00. Also, Director Yvon Charest purchased 334 shares of the stock in a transaction on Wednesday, February 19th. The stock was acquired at an average price of C$125.90 per share, with a total value of C$42,050.60. 0.21% of the stock is owned by company 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.