National Bank of Canada (TSE:NA) Receives Average Rating of “Hold” from Brokerages

National Bank of Canada (TSE:NA) has been assigned a consensus recommendation of “Hold” from the twelve ratings firms that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is C$122.64.

NA has been the subject of several research reports. Canaccord Genuity Group upped their price target on shares of National Bank of Canada from C$113.00 to C$123.00 in a research report on Thursday, August 29th. Cormark upped their price objective on shares of National Bank of Canada from C$122.00 to C$128.00 in a report on Thursday, August 29th. Jefferies Financial Group upped their target price on National Bank of Canada from C$119.00 to C$126.00 in a research report on Thursday, August 29th. TD Securities upped their target price on National Bank of Canada from C$123.00 to C$129.00 in a research report on Thursday, August 29th. Finally, CIBC lowered National Bank of Canada from an “outperform” rating to a “neutral” rating in a research report on Friday.

Insider Transactions at National Bank of Canada

In other National Bank of Canada news, Director Yvon Charest bought 325 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were purchased at an average cost 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 Stock Performance

Shares of National Bank of Canada stock opened at C$127.22 on Friday. National Bank of Canada has a fifty-two week low of C$84.27 and a fifty-two week high of C$128.37. The company has a fifty day moving average of C$118.56 and a 200 day moving average of C$114.41. The company has a market capitalization of C$43.30 billion, a P/E ratio of 12.39, a P/E/G ratio of 17.04 and a beta of 1.12.

National Bank of Canada (TSE:NA) last announced its earnings results on Wednesday, August 28th. The financial services provider reported C$2.68 earnings per share (EPS) for the quarter, beating the consensus estimate 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. Analysts forecast that National Bank of Canada will post 10.7004292 EPS for the current year.

National Bank of Canada Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Monday, September 30th will be given a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date is Friday, September 27th. National Bank of Canada’s payout ratio is 42.84%.

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.