National Bank of Canada (TSE:NA) to Post FY2024 Earnings of $10.35 Per Share, Desjardins Forecasts

National Bank of Canada (TSE:NA) – Equities research analysts at Desjardins increased their FY2024 earnings per share estimates for shares of National Bank of Canada in a note issued to investors on Wednesday, August 28th. Desjardins analyst D. Young now expects that the financial services provider will earn $10.35 per share for the year, up from their prior estimate of $10.10. Desjardins currently has a “Hold” rating and a $118.00 target price on the stock. The consensus estimate for National Bank of Canada’s current full-year earnings is $10.48 per share. Desjardins also issued estimates for National Bank of Canada’s FY2025 earnings at $10.85 EPS.

National Bank of Canada (TSE:NA) last posted its quarterly earnings results on Wednesday, August 28th. The financial services provider reported C$2.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$2.50 by C$0.18. The company 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%.

A number of other analysts have also commented on NA. Scotiabank increased their price objective on National Bank of Canada from C$120.00 to C$129.00 in a research note on Thursday. Cormark upped their price objective on National Bank of Canada from C$122.00 to C$128.00 in a report on Thursday. CIBC raised their price target on shares of National Bank of Canada from C$122.00 to C$134.00 in a report on Thursday. Jefferies Financial Group raised their price objective on National Bank of Canada from C$119.00 to C$126.00 in a research report on Thursday. Finally, UBS Group set a C$123.00 target price on shares of National Bank of Canada and gave the stock a “buy” rating in a research report on Tuesday, July 2nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of C$121.33.

National Bank of Canada Stock Performance

National Bank of Canada has a 12 month low of C$84.27 and a 12 month high of C$127.22. The firm has a market cap of C$42.03 billion, a PE ratio of 12.02, a price-to-earnings-growth ratio of 17.04 and a beta of 1.13. The company has a 50 day simple moving average of C$113.71 and a 200-day simple moving average of C$112.15.

National Bank of Canada Dividend Announcement

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

Insider Buying and Selling at National Bank of Canada

In related news, Director Yvon Charest purchased 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, for a total transaction of C$38,103.00. In related news, Senior Officer Lucie Blanchet sold 8,800 shares of the stock in a transaction dated 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 acquired 325 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was bought at an average price of C$117.24 per share, with a total value of C$38,103.00. 0.21% of the stock is owned by insiders.

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.