National Bank of Canada (TSE:NA) Cut to “Neutral” at CIBC

CIBC downgraded shares of National Bank of Canada (TSE:NA) from an outperform rating to a neutral rating in a research note published on Friday morning, BayStreet.CA reports.

Other equities research analysts have also recently issued research reports about the stock. Cormark increased their target price on shares of National Bank of Canada from C$122.00 to C$128.00 in a research report on Thursday, August 29th. BMO Capital Markets increased their target price on shares of National Bank of Canada from C$115.00 to C$125.00 in a research report on Thursday, August 29th. Scotiabank increased their price objective on shares of National Bank of Canada from C$120.00 to C$129.00 in a report on Thursday, August 29th. TD Securities increased their price objective on shares of National Bank of Canada from C$123.00 to C$129.00 in a report on Thursday, August 29th. Finally, UBS Group set a C$123.00 price objective on shares of National Bank of Canada and gave the stock a buy rating in a report on Tuesday, July 2nd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, National Bank of Canada presently has an average rating of Hold and an average price target of C$122.64.

National Bank of Canada Stock Down 0.6 %

Shares of National Bank of Canada stock opened at C$127.22 on Friday. The stock has a market capitalization of C$43.30 billion, a P/E ratio of 12.39, a price-to-earnings-growth ratio of 17.04 and a beta of 1.12. The company has a 50-day simple moving average of C$118.56 and a 200 day simple moving average of C$114.41. National Bank of Canada has a 12-month low of C$84.27 and a 12-month high of C$128.37.

National Bank of Canada (TSE:NA) last announced its earnings results on Wednesday, August 28th. The financial services provider reported C$2.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$2.50 by C$0.18. The business had revenue of C$2.98 billion during the quarter, compared to analysts’ expectations of C$2.95 billion. National Bank of Canada had a net margin of 34.50% and a return on equity of 15.18%. On average, equities analysts anticipate that National Bank of Canada will post 10.8549488 earnings per share for the current year.

National Bank of Canada Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Monday, September 30th will be paid a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 3.46%. The ex-dividend date is Friday, September 27th. National Bank of Canada’s dividend payout ratio (DPR) is presently 42.84%.

Insider Activity

In other National Bank of Canada news, Director Yvon Charest bought 325 shares of National Bank of Canada stock in a transaction dated Monday, August 19th. The shares were bought at an average price of C$117.24 per share, with a total value of C$38,103.00. 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.