National Bank of Canada (TSE:NA – Get Free Report) had its price target cut by stock analysts at Scotiabank from C$123.00 to C$120.00 in a note issued to investors on Monday, BayStreet.CA reports. Scotiabank’s price objective would indicate a potential upside of 1.63% from the company’s previous close.
NA has been the topic of several other research reports. TD Securities raised their target price on shares of National Bank of Canada from C$121.00 to C$123.00 in a research note on Thursday, August 8th. Cormark lifted their price objective on shares of National Bank of Canada from C$119.00 to C$120.00 in a research report on Thursday, May 30th. BMO Capital Markets reduced their target price on National Bank of Canada from C$121.00 to C$115.00 and set an “outperform” rating for the company in a report on Tuesday, June 18th. Royal Bank of Canada lifted their price target on National Bank of Canada from C$109.00 to C$113.00 and gave the company a “sector perform” rating in a report on Thursday, May 30th. Finally, Canaccord Genuity Group upped their price target on National Bank of Canada from C$109.00 to C$117.00 and gave the company a “hold” rating in a research report on Thursday, May 30th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, National Bank of Canada has a consensus rating of “Hold” and an average target price of C$114.85.
Read Our Latest Stock Report on NA
National Bank of Canada Stock Performance
National Bank of Canada (TSE:NA – Get Free Report) last issued its earnings results on Wednesday, May 29th. The financial services provider reported C$2.54 earnings per share for the quarter, topping the consensus estimate of C$2.43 by C$0.11. National Bank of Canada had a return on equity of 14.72% and a net margin of 34.10%. The firm had revenue of C$2.84 billion for the quarter, compared to analyst estimates of C$2.89 billion. As a group, sell-side analysts forecast that National Bank of Canada will post 10.5085049 earnings per share for the current year.
Insiders Place Their Bets
In other National Bank of Canada news, Senior Officer Lucie Blanchet sold 8,800 shares of National Bank of Canada 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. In other news, Senior Officer Lucie Blanchet sold 8,800 shares of the 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 purchased 324 shares of the stock in a transaction that occurred on Tuesday, May 21st. The stock was bought at an average cost of C$116.20 per share, with a total value of C$37,648.80. Corporate 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.
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