National Bank of Canada (TSE:NA) PT Lowered to C$119.00

National Bank of Canada (TSE:NA) had its price objective reduced by Jefferies Financial Group from C$121.00 to C$119.00 in a research note issued to investors on Monday morning, BayStreet.CA reports. They currently have a hold rating on the financial services provider’s stock.

Several other research firms have also commented on NA. Cormark boosted 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. Desjardins upped their target price on National Bank of Canada from C$116.00 to C$118.00 and gave the company a hold rating in a research note 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 research report on Tuesday, July 2nd. Canaccord Genuity Group increased their price objective on National Bank of Canada from C$109.00 to C$117.00 and gave the company a hold rating in a research note on Thursday, May 30th. Finally, Royal Bank of Canada boosted their target price on shares of National Bank of Canada from C$109.00 to C$113.00 and gave the company a sector perform rating in a research note on Thursday, May 30th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, National Bank of Canada has an average rating of Hold and a consensus price target of C$114.54.

National Bank of Canada Price Performance

Shares of National Bank of Canada stock opened at C$116.38 on Monday. The firm’s fifty day simple moving average is C$111.73 and its 200-day simple moving average is C$110.92. National Bank of Canada has a 12 month low of C$84.27 and a 12 month high of C$118.77. The stock has a market capitalization of C$39.55 billion, a price-to-earnings ratio of 12.25, a PEG ratio of 17.04 and a beta of 1.12.

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 for the quarter, beating 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 firm had revenue of C$2.84 billion for the quarter, compared to analyst estimates of C$2.89 billion. Analysts anticipate that National Bank of Canada will post 9.8686007 earnings per share for the current year.

National Bank of Canada Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Monday, June 24th were issued a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date of this dividend was Monday, June 24th. This is a boost from National Bank of Canada’s previous quarterly dividend of $1.06. National Bank of Canada’s dividend payout ratio is currently 44.63%.

Insider Buying and Selling at National Bank of Canada

In other news, Director Yvon Charest purchased 324 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The shares were purchased at an average price of C$116.20 per share, with a total value of C$37,648.80. 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 bought at an average cost of C$116.20 per share, with a total value of C$37,648.80. Also, 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 value of C$946,792.00. 0.20% of the stock is owned by corporate 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.