Analysts Set National Bank of Canada (TSE:NA) Price Target at C$116.42

Shares of National Bank of Canada (TSE:NA) have received an average recommendation of “Hold” from the thirteen ratings firms that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is C$121.33.

A number of equities analysts recently issued reports on the company. Royal Bank of Canada raised their price target on National Bank of Canada from C$113.00 to C$116.00 in a report on Thursday, August 29th. Desjardins raised 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 report on Tuesday, August 6th. UBS Group set a C$123.00 price target on National Bank of Canada and gave the stock a “buy” rating in a report on Tuesday, July 2nd. Jefferies Financial Group raised their price target on National Bank of Canada from C$119.00 to C$126.00 in a report on Thursday, August 29th. Finally, Canaccord Genuity Group raised their price target on National Bank of Canada from C$113.00 to C$123.00 in a report on Thursday, August 29th.

National Bank of Canada Price Performance

NA stock opened at C$123.49 on Tuesday. The company has a market cap of C$42.03 billion, a price-to-earnings ratio of 12.02, a price-to-earnings-growth ratio of 17.04 and a beta of 1.13. The company has a fifty day moving average price of C$114.05 and a 200 day moving average price of C$112.29. National Bank of Canada has a 12 month low of C$84.27 and a 12 month high of C$127.22.

National Bank of Canada (TSE:NA) last announced its earnings results on Wednesday, August 28th. The financial services provider reported C$2.68 EPS for the quarter, beating analysts’ consensus estimates of C$2.50 by C$0.18. National Bank of Canada had a net margin of 34.50% and a return on equity of 15.18%. The business had revenue of C$2.98 billion during the quarter, compared to analysts’ expectations of C$2.95 billion. As a group, analysts anticipate that National Bank of Canada will post 10.4784081 earnings per share for the current year.

National Bank of Canada Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Monday, September 30th will be given a dividend of $1.10 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 3.56%. National Bank of Canada’s payout ratio is 42.84%.

Insider Activity

In related news, Director Yvon Charest purchased 325 shares of National Bank of Canada stock in a transaction dated Monday, August 19th. The stock was bought at an average cost of C$117.24 per share, for a total transaction of C$38,103.00. In other news, Senior Officer Lucie Blanchet sold 8,800 shares of the firm’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 transaction of C$946,792.00. Also, Director Yvon Charest acquired 325 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were acquired at an average cost of C$117.24 per share, with a total value of C$38,103.00. Insiders own 0.21% 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.