National Bank of Canada (TSE:NA) Cut to “Hold” at Cormark

National Bank of Canada (TSE:NA) was downgraded by stock analysts at Cormark from a “moderate buy” rating to a “hold” rating in a research note issued to investors on Friday,Zacks.com reports.

Several other equities analysts have also recently issued reports on NA. Scotiabank reduced their price target on shares of National Bank of Canada from C$154.00 to C$125.00 and set a “sector perform” rating on the stock in a research report on Thursday. UBS Group dropped their price objective on shares of National Bank of Canada from C$150.00 to C$145.00 in a research note on Friday, February 14th. Canaccord Genuity Group upped their price objective on shares of National Bank of Canada from C$135.00 to C$142.00 in a report on Thursday, December 5th. Royal Bank of Canada upped their price objective on shares of National Bank of Canada from C$134.00 to C$145.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 8th. Finally, CIBC cut their price objective on shares of National Bank of Canada from C$141.00 to C$135.00 in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, National Bank of Canada currently has an average rating of “Hold” and a consensus price target of C$138.20.

National Bank of Canada Price Performance

Shares of TSE NA opened at C$124.43 on Friday. National Bank of Canada has a 1 year low of C$102.90 and a 1 year high of C$141.15. The company’s 50-day moving average is C$129.93 and its 200 day moving average is C$128.46. The stock has a market capitalization of C$48.51 billion, a P/E ratio of 11.04, a P/E/G ratio of 7.14 and a beta of 1.12.

Insider Activity

In other news, Director Yvon Charest purchased 334 shares of the business’s stock in a transaction dated Wednesday, February 19th. The shares were purchased at an average price of C$125.90 per share, for a total transaction of C$42,050.60. Also, Senior Officer Brigitte Hébert sold 400 shares of the stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of C$132.46, for a total transaction of C$52,984.00. Corporate insiders own 0.21% of the company’s stock.

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.