National Bank of Canada (TSE:NA) Downgraded to Hold Rating by Cormark

Cormark cut shares of National Bank of Canada (TSE:NA) from a moderate buy rating to a hold rating in a report published on Friday morning,Zacks.com reports.

A number of other equities analysts have also commented on NA. Scotiabank lowered their price target on shares of National Bank of Canada from C$154.00 to C$125.00 and set a “sector perform” rating on the stock in a research report on Thursday. CIBC cut their target price on shares of National Bank of Canada from C$141.00 to C$135.00 in a research report on Tuesday. BMO Capital Markets raised their price target on shares of National Bank of Canada from C$125.00 to C$143.00 in a report on Monday, November 18th. TD Securities lowered their price objective on shares of National Bank of Canada from C$140.00 to C$138.00 in a research note on Thursday, December 5th. Finally, Canaccord Genuity Group lifted their price objective on shares of 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, ten have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of C$138.20.

National Bank of Canada Trading Up 0.8 %

Shares of NA opened at C$124.43 on Friday. The firm has a fifty day simple moving average of C$129.93 and a 200 day simple moving average of C$128.46. National Bank of Canada has a 12 month low of C$102.90 and a 12 month high of C$141.15. The stock has a market capitalization of C$48.51 billion, a price-to-earnings ratio of 11.04, a PEG ratio of 7.14 and a beta of 1.12.

National Bank of Canada Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, February 1st. Stockholders of record on Monday, December 30th were given a $1.14 dividend. This represents a $4.56 annualized dividend and a dividend yield of 3.66%. The ex-dividend date was Monday, December 30th. This is a positive change from National Bank of Canada’s previous quarterly dividend of $1.10. National Bank of Canada’s payout ratio is currently 39.03%.

Insider Buying and Selling

In other National Bank of Canada news, Director Yvon Charest acquired 334 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were bought at an average price of C$125.90 per share, with a total value of C$42,050.60. Also, insider Marie-Chantal Gingras sold 600 shares of the stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of C$132.79, for a total value of C$79,674.00. 0.21% of the stock is owned by corporate 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.