National Bank of Canada (TSE:NA) Receives C$114.62 Average Target Price from Analysts

Shares of National Bank of Canada (TSE:NA) have been assigned an average recommendation of “Hold” from the fourteen analysts that are currently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and four have given a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is C$114.69.

A number of research analysts have recently commented on the company. Scotiabank lowered their target price on National Bank of Canada from C$119.00 to C$116.00 and set a “hold” rating for the company in a research report on Tuesday, June 18th. CIBC increased their target price on National Bank of Canada from C$109.00 to C$124.00 and gave the company an “outperform” rating in a research report on Thursday, May 30th. Canaccord Genuity Group increased their target price on National Bank of Canada from C$109.00 to C$117.00 and gave the company a “hold” rating in a research report on Thursday, May 30th. Desjardins increased their target price on National Bank of Canada from C$116.00 to C$118.00 and gave the company a “hold” rating in a research report on Tuesday. Finally, Cormark increased their price target on National Bank of Canada from C$119.00 to C$120.00 in a report on Thursday, May 30th.

National Bank of Canada Price Performance

NA stock opened at C$114.04 on Friday. National Bank of Canada has a 1-year low of C$84.27 and a 1-year high of C$118.77. The company has a market capitalization of C$38.76 billion, a price-to-earnings ratio of 12.00, a PEG ratio of 17.04 and a beta of 1.12. The business has a 50 day simple moving average of C$111.99 and a two-hundred day simple moving average of C$110.46.

National Bank of Canada (TSE:NA) last posted its quarterly earnings results on Wednesday, May 29th. The financial services provider reported C$2.54 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of C$2.84 billion during the quarter, compared to the consensus estimate of C$2.89 billion. Sell-side analysts anticipate that National Bank of Canada will post 9.8686007 EPS for the current fiscal year.

National Bank of Canada Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Monday, June 24th were paid a $1.10 dividend. This is a positive change from National Bank of Canada’s previous quarterly dividend of $1.06. The ex-dividend date of this dividend was Monday, June 24th. This represents a $4.40 dividend on an annualized basis and a yield of 3.86%. National Bank of Canada’s dividend payout ratio (DPR) is presently 44.63%.

Insiders Place Their Bets

In other National Bank of Canada news, Senior Officer Lucie Blanchet sold 8,800 shares of the 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 related news, Senior Officer Lucie Blanchet sold 8,800 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of C$107.59, for a total value of C$946,792.00. Also, Director Yvon Charest bought 324 shares of the stock in a transaction on Tuesday, May 21st. The shares were bought at an average price of C$116.20 per share, with a total value of C$37,648.80. Insiders own 0.20% of the company’s stock.

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.