National Bank of Canada (TSE:NA) Hits New 52-Week High on Analyst Upgrade

National Bank of Canada (TSE:NA)’s share price reached a new 52-week high during trading on Monday after CIBC raised their price target on the stock from C$135.00 to C$141.00. The stock traded as high as C$138.54 and last traded at C$138.54, with a volume of 1800 shares changing hands. The stock had previously closed at C$137.81.

A number of other research analysts also recently commented on the stock. Scotiabank increased their price objective on shares of National Bank of Canada from C$129.00 to C$154.00 in a research note on Monday. Cormark upped their target price on shares of National Bank of Canada from C$122.00 to C$128.00 in a research note on Thursday, August 29th. Desjardins lifted their price target on National Bank of Canada from C$116.00 to C$118.00 and gave the stock a “hold” rating in a research note on Tuesday, August 6th. BMO Capital Markets boosted their price objective on National Bank of Canada from C$125.00 to C$143.00 in a report on Monday, November 18th. Finally, Royal Bank of Canada upped their price objective on National Bank of Canada from C$113.00 to C$116.00 in a research note on Thursday, August 29th. 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.com, the stock currently has a consensus rating of “Hold” and an average target price of C$132.40.

Insider Transactions at National Bank of Canada

In other news, Director Yvon Charest bought 285 shares of National Bank of Canada stock in a transaction on Tuesday, November 19th. The stock was purchased at an average cost of C$133.71 per share, with a total value of C$38,107.35. Insiders own 0.21% of the company’s stock.

National Bank of Canada Trading Up 0.0 %

The company has a market cap of C$46.78 billion, a price-to-earnings ratio of 13.38, a price-to-earnings-growth ratio of 7.14 and a beta of 1.12. The stock has a 50-day simple moving average of C$131.10 and a 200-day simple moving average of C$120.55.

National Bank of Canada (TSE:NA) last posted its quarterly earnings data on Wednesday, August 28th. The financial services provider reported C$2.68 earnings per share for the quarter, topping the consensus estimate of C$2.50 by C$0.18. The business had revenue of C$2.98 billion during the quarter, compared to the consensus estimate of C$2.95 billion. National Bank of Canada had a net margin of 34.50% and a return on equity of 15.18%. As a group, research analysts expect that National Bank of Canada will post 10.8360791 EPS for the current fiscal year.

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.