National Bank of Canada (TSE:NA) PT Set at C$123.00 by UBS Group

UBS Group set a C$123.00 target price on National Bank of Canada (TSE:NA) in a research report sent to investors on Tuesday morning, MarketBeat Ratings reports. The firm currently has a buy rating on the financial services provider’s stock.

Other equities analysts have also recently issued research reports about the company. Canaccord Genuity Group boosted their price objective on National Bank of Canada from C$109.00 to C$117.00 and gave the company a hold rating in a report on Thursday, May 30th. BMO Capital Markets dropped their price objective on National Bank of Canada from C$121.00 to C$115.00 and set an outperform rating for the company in a report on Tuesday, June 18th. Scotiabank dropped their price objective on National Bank of Canada from C$119.00 to C$116.00 and set a hold rating for the company in a report on Tuesday, June 18th. Cormark boosted their price objective on National Bank of Canada from C$119.00 to C$120.00 in a report on Thursday, May 30th. Finally, CIBC boosted their price objective on National Bank of Canada from C$109.00 to C$124.00 and gave the company an outperform rating in a report on Thursday, May 30th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of C$114.62.

National Bank of Canada Stock Performance

Shares of National Bank of Canada stock opened at C$109.85 on Tuesday. The stock has a market cap of C$37.33 billion, a price-to-earnings ratio of 11.63, a price-to-earnings-growth ratio of 17.04 and a beta of 1.12. The stock has a 50 day moving average price of C$112.65 and a 200-day moving average price of C$108.26. National Bank of Canada has a one year low of C$84.27 and a one year high of C$118.77.

National Bank of Canada (TSE:NA) last announced its earnings results on Wednesday, May 29th. The financial services provider reported C$2.54 EPS for the quarter, topping analysts’ consensus estimates of C$2.43 by C$0.11. National Bank of Canada had a return on equity of 14.73% and a net margin of 34.22%. The firm had revenue of C$2.84 billion during the quarter, compared to analysts’ expectations of C$2.89 billion. Sell-side analysts predict that National Bank of Canada will post 9.8686007 earnings per share for the current fiscal year.

National Bank of Canada Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Monday, June 24th will be given a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 4.01%. This is a positive change from National Bank of Canada’s previous quarterly dividend of $1.06. The ex-dividend date is Monday, June 24th. National Bank of Canada’s payout ratio is presently 44.63%.

Insider Transactions at National Bank of Canada

In other news, Senior Officer Lucie Blanchet sold 8,800 shares of the business’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of C$107.59, for a total value of C$946,792.00. In other National Bank of Canada news, Director Yvon Charest bought 324 shares of National Bank of Canada stock in a transaction that occurred on Tuesday, May 21st. The shares were bought at an average cost of C$116.20 per share, with a total value of C$37,648.80. Also, Senior Officer Lucie Blanchet sold 8,800 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of C$107.59, for a total value of C$946,792.00. Corporate 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.