Scotiabank Cuts National Bank of Canada (TSE:NA) Price Target to C$120.00

National Bank of Canada (TSE:NA) had its price objective trimmed by Scotiabank from C$123.00 to C$120.00 in a research note released on Monday, BayStreet.CA reports.

Other research analysts also recently issued research reports about the company. Jefferies Financial Group reduced their price objective on National Bank of Canada from C$121.00 to C$119.00 and set a hold rating for the company in a research note on Monday, August 12th. BMO Capital Markets reduced their price objective on National Bank of Canada from C$121.00 to C$115.00 and set an outperform rating on the stock in a research report on Tuesday, June 18th. TD Securities raised their price target on National Bank of Canada from C$121.00 to C$123.00 in a research report on Thursday, August 8th. CIBC lifted their price objective on National Bank of Canada from C$109.00 to C$124.00 and gave the stock an outperform rating in a research report on Thursday, May 30th. Finally, Cormark raised their target price on National Bank of Canada from C$119.00 to C$120.00 in a research note on Thursday, May 30th. One analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of Hold and a consensus price target of C$116.42.

National Bank of Canada Stock Up 0.6 %

Shares of NA opened at C$118.46 on Monday. The stock has a market capitalization of C$41.34 billion, a P/E ratio of 12.21, a P/E/G ratio of 17.04 and a beta of 1.13. National Bank of Canada has a twelve month low of C$84.27 and a twelve month high of C$118.83. The company has a 50 day moving average of C$111.94 and a 200-day moving average of C$111.39.

National Bank of Canada (TSE:NA) last released its quarterly earnings data on Wednesday, May 29th. The financial services provider reported C$2.54 earnings per share for the quarter, beating the consensus estimate of C$2.43 by C$0.11. The business had revenue of C$2.84 billion for the quarter, compared to analyst estimates of C$2.89 billion. National Bank of Canada had a return on equity of 14.72% and a net margin of 34.10%. On average, sell-side analysts anticipate that National Bank of Canada will post 10.5085049 earnings per share for the current fiscal year.

National Bank of Canada Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Monday, June 24th were given a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 3.71%. The ex-dividend date was Monday, June 24th. This is a positive change from National Bank of Canada’s previous quarterly dividend of $1.06. National Bank of Canada’s payout ratio is presently 45.36%.

Insider Buying and Selling at National Bank of Canada

In related 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 transaction of C$946,792.00. In related news, Director Yvon Charest bought 325 shares of the stock in a transaction on Monday, August 19th. The shares were purchased at an average price of C$117.24 per share, for a total transaction of C$38,103.00. Also, 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. Company 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.