Brokerages Set National Bank of Canada (TSE:NA) Price Target at C$122.64

National Bank of Canada (TSE:NA) has received an average recommendation of “Hold” from the thirteen analysts that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is C$122.64.

A number of equities research analysts recently weighed in on the stock. Canaccord Genuity Group lifted their price objective on shares of National Bank of Canada from C$113.00 to C$123.00 in a report on Thursday, August 29th. Cormark lifted their price target on shares of National Bank of Canada from C$122.00 to C$128.00 in a research note on Thursday, August 29th. UBS Group set a C$123.00 price objective on National Bank of Canada and gave the stock a “buy” rating in a research note on Tuesday, July 2nd. Jefferies Financial Group lifted their target price on National Bank of Canada from C$119.00 to C$126.00 in a research report on Thursday, August 29th. Finally, Scotiabank increased their price target on National Bank of Canada from C$120.00 to C$129.00 in a research report on Thursday, August 29th.

National Bank of Canada Stock Performance

Shares of TSE NA opened at C$131.32 on Wednesday. National Bank of Canada has a fifty-two week low of C$84.27 and a fifty-two week high of C$132.67. The company has a market cap of C$44.70 billion, a price-to-earnings ratio of 12.79, a PEG ratio of 7.14 and a beta of 1.12. The business’s 50 day moving average price is C$124.52 and its 200-day moving average price is C$116.74.

National Bank of Canada (TSE:NA) last released its earnings results on Wednesday, August 28th. The financial services provider reported C$2.68 earnings per share for the quarter, topping 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 business had revenue of C$2.98 billion for the quarter, compared to analyst estimates of C$2.95 billion. Sell-side analysts predict that National Bank of Canada will post 10.8360791 earnings per share for the current year.

National Bank of Canada Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Monday, September 30th will be issued a $1.10 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $4.40 dividend on an annualized basis and a yield of 3.35%. National Bank of Canada’s dividend payout ratio is presently 42.84%.

Insider Activity

In other National Bank of Canada news, Director Yvon Charest purchased 325 shares of the stock in a transaction on Monday, August 19th. The shares were bought at an average cost of C$117.24 per share, with a total value of C$38,103.00. Company insiders own 0.21% 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.