National Bank of Canada (TSE:NA) Price Target Raised to C$118.00 at Desjardins

National Bank of Canada (TSE:NA) had its target price lifted by Desjardins from C$116.00 to C$118.00 in a report published on Tuesday morning, BayStreet.CA reports. Desjardins currently has a hold rating on the financial services provider’s stock.

Other research analysts have also recently issued reports about the stock. Scotiabank reduced their price target on shares of National Bank of Canada from C$119.00 to C$116.00 and set a hold rating on the stock in a research report on Tuesday, June 18th. Jefferies Financial Group decreased their target price on shares of National Bank of Canada from C$123.00 to C$121.00 and set a hold rating on the stock in a research report on Thursday, June 6th. UBS Group set a C$123.00 price target on shares of National Bank of Canada and gave the company a buy rating in a research report on Tuesday, July 2nd. 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 report on Thursday, May 30th. Finally, BMO Capital Markets dropped 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. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of Hold and an average price target of C$114.69.

National Bank of Canada Stock Performance

NA traded down C$0.07 on Tuesday, reaching C$113.97. The company had a trading volume of 615,211 shares, compared to its average volume of 1,780,627. National Bank of Canada has a 52-week low of C$84.27 and a 52-week high of C$118.77. The company has a market cap of C$38.73 billion, a price-to-earnings ratio of 12.00, a P/E/G ratio of 17.04 and a beta of 1.12. The business has a 50 day simple moving average of C$111.94 and a 200 day simple moving average of C$110.55.

National Bank of Canada (TSE:NA) last posted its quarterly earnings data on Wednesday, May 29th. The financial services provider reported C$2.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$2.43 by C$0.11. National Bank of Canada had a net margin of 34.22% and a return on equity of 14.73%. The company had revenue of C$2.84 billion during the quarter, compared to the consensus estimate of C$2.89 billion. As a group, equities research analysts predict that National Bank of Canada will post 9.8686007 EPS for the current fiscal year.

National Bank of Canada Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Monday, June 24th were issued a dividend of $1.10 per share. This is an increase from National Bank of Canada’s previous quarterly dividend of $1.06. The ex-dividend date was Monday, June 24th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 3.86%. National Bank of Canada’s dividend payout ratio is 44.63%.

Insider Activity

In other National Bank of Canada news, Director Yvon Charest bought 324 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were acquired at an average cost of C$116.20 per share, for a total transaction of C$37,648.80. In related news, Director Yvon Charest bought 324 shares of the stock in a transaction on Tuesday, May 21st. The shares were acquired at an average price of C$116.20 per share, for a total transaction of C$37,648.80. Also, Senior Officer Lucie Blanchet sold 8,800 shares of National Bank of Canada stock in a transaction that occurred 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. 0.20% of the stock is currently owned by company 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.