National Bank of Canada (TSE:NA) Hits New 1-Year Low Following Analyst Downgrade

National Bank of Canada (TSE:NA)’s stock price hit a new 52-week low during mid-day trading on Monday after UBS Group lowered their price target on the stock from C$145.00 to C$140.00. The stock traded as low as C$0.01 and last traded at C$119.60, with a volume of 462201 shares trading hands. The stock had previously closed at C$120.41.

Other equities research analysts also recently issued reports about the company. Jefferies Financial Group decreased their target price on National Bank of Canada from C$149.00 to C$147.00 and set a “buy” rating on the stock in a research report on Thursday. Cibc World Mkts lowered shares of National Bank of Canada from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 18th. Scotiabank cut their target price on National Bank of Canada from C$154.00 to C$125.00 and set a “sector perform” rating for the company in a research report on Thursday, February 20th. CIBC decreased their price target on National Bank of Canada from C$141.00 to C$135.00 in a research note on Tuesday, February 18th. Finally, TD Securities cut their price objective on National Bank of Canada from C$135.00 to C$131.00 and set a “hold” rating for the company in a report on Thursday. Nine analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of C$137.20.

Insider Activity

In other National Bank of Canada news, Director Yvon Charest purchased 334 shares of the stock in a transaction dated Wednesday, February 19th. The stock was bought at an average price of C$125.90 per share, for a total transaction of C$42,050.60. Also, insider Marie-Chantal Gingras sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of C$132.79, for a total transaction of C$79,674.00. Insiders have purchased 6,344 shares of company stock valued at $763,776 over the last three months. 0.21% of the stock is owned by insiders.

National Bank of Canada Trading Down 0.7 %

The firm has a market cap of C$46.62 billion, a P/E ratio of 10.61, a price-to-earnings-growth ratio of 7.14 and a beta of 1.12. The firm’s 50 day moving average is C$128.77 and its two-hundred day moving average is C$129.06.

National Bank of Canada Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Monday, March 31st will be given a dividend of $1.14 per share. This represents a $4.56 dividend on an annualized basis and a dividend yield of 3.81%. National Bank of Canada’s dividend payout ratio is currently 39.03%.

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.