National Bank of Canada (TSE:NA) Stock Rating Lowered by CIBC

National Bank of Canada (TSE:NA) was downgraded by investment analysts at CIBC from an “outperform” rating to a “neutral” rating in a note issued to investors on Friday, BayStreet.CA reports.

A number of other equities analysts have also recently commented on the stock. Scotiabank boosted their price target on shares of National Bank of Canada from C$120.00 to C$129.00 in a research note on Thursday, August 29th. TD Securities increased their target price on National Bank of Canada from C$123.00 to C$129.00 in a research note on Thursday, August 29th. UBS Group set a C$123.00 price target on National Bank of Canada and gave the stock a “buy” rating in a research note on Tuesday, July 2nd. Cormark increased their price objective on National Bank of Canada from C$122.00 to C$128.00 in a research report on Thursday, August 29th. Finally, BMO Capital Markets raised their price objective on National Bank of Canada from C$115.00 to C$125.00 in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, National Bank of Canada has a consensus rating of “Hold” and an average target price of C$122.64.

National Bank of Canada Stock Performance

Shares of NA stock opened at C$127.22 on Friday. National Bank of Canada has a 52-week low of C$84.27 and a 52-week high of C$128.37. The business’s fifty day moving average is C$118.56 and its 200 day moving average is C$114.41. The company has a market capitalization of C$43.30 billion, a PE ratio of 12.39, a price-to-earnings-growth ratio of 17.04 and a beta of 1.12.

National Bank of Canada (TSE:NA) last issued its quarterly earnings results on Wednesday, August 28th. The financial services provider reported C$2.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$2.50 by C$0.18. National Bank of Canada had a return on equity of 15.18% and a net margin of 34.50%. The firm had revenue of C$2.98 billion during the quarter, compared to the consensus estimate of C$2.95 billion. On average, sell-side analysts forecast that National Bank of Canada will post 10.7004292 EPS for the current fiscal year.

Insider Activity

In other news, Director Yvon Charest acquired 325 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were purchased at an average price of C$117.24 per share, for a total transaction of C$38,103.00. Insiders own 0.20% of the company’s stock.

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.