National Bankshares Increases IGM Financial (TSE:IGM) Price Target to C$50.00

IGM Financial (TSE:IGM) had its price target increased by National Bankshares from C$47.00 to C$50.00 in a research note issued to investors on Wednesday, BayStreet.CA reports. They currently have an outperform rating on the financial services provider’s stock.

IGM has been the topic of several other research reports. Jefferies Financial Group lifted their price target on shares of IGM Financial from C$38.00 to C$39.00 and gave the company a “buy” rating in a report on Monday, July 29th. Royal Bank of Canada lifted their price target on shares of IGM Financial from C$46.00 to C$47.00 in a report on Thursday, August 8th. Scotiabank lifted their price target on shares of IGM Financial from C$45.00 to C$46.00 in a report on Wednesday, July 24th. Finally, BMO Capital Markets cut their price target on shares of IGM Financial from C$40.00 to C$39.00 in a report on Friday, August 9th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of C$44.14.

IGM Financial Stock Up 1.0 %

Shares of TSE IGM opened at C$42.85 on Wednesday. The company has a quick ratio of 0.31, a current ratio of 2.12 and a debt-to-equity ratio of 35.99. IGM Financial has a 52 week low of C$30.92 and a 52 week high of C$43.07. The firm’s fifty day moving average is C$40.33 and its 200 day moving average is C$38.18. The company has a market cap of C$10.14 billion, a price-to-earnings ratio of 12.07, a PEG ratio of 4.09 and a beta of 1.53.

IGM Financial (TSE:IGM) last issued its earnings results on Wednesday, August 7th. The financial services provider reported C$0.93 EPS for the quarter, missing the consensus estimate of C$0.95 by C($0.02). IGM Financial had a return on equity of 12.80% and a net margin of 29.47%. The firm had revenue of C$816.31 million during the quarter, compared to analysts’ expectations of C$826.00 million. On average, equities research analysts expect that IGM Financial will post 4.006816 earnings per share for the current year.

IGM Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Thursday, October 31st will be issued a dividend of $0.563 per share. This represents a $2.25 dividend on an annualized basis and a dividend yield of 5.26%. The ex-dividend date of this dividend is Friday, September 27th. IGM Financial’s dividend payout ratio (DPR) is presently 63.38%.

IGM Financial Company Profile

IGM Financial Inc operates as a wealth and asset management company in Canada. It operates through Wealth Management and Asset Management segments. The Wealth Management segment offers investments that are focused on providing financial planning and related services; and provides mutual fund management and discretionary portfolio management services.