National Bank of Canada (TSE:NA) Price Target Raised to C$128.00 at Cormark

National Bank of Canada (TSE:NA) had its target price lifted by Cormark from C$122.00 to C$128.00 in a research note released on Thursday, BayStreet.CA reports.

Several other research firms have also commented on NA. Canaccord Genuity Group boosted their price target on National Bank of Canada from C$109.00 to C$117.00 and gave the stock a hold rating in a research report on Thursday, May 30th. TD Securities boosted their target price on shares of National Bank of Canada from C$123.00 to C$129.00 in a research report on Thursday. Desjardins raised their price target on shares of National Bank of Canada from C$116.00 to C$118.00 and gave the company a hold rating in a report on Tuesday, August 6th. CIBC cut their price objective on shares of National Bank of Canada from C$124.00 to C$122.00 and set an outperform rating on the stock in a report on Tuesday, August 20th. 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 on the stock in a research report on Tuesday, June 18th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, National Bank of Canada has an average rating of Hold and a consensus target price of C$121.33.

National Bank of Canada Price Performance

The stock has a 50-day simple moving average of C$113.71 and a two-hundred day simple moving average of C$112.15. National Bank of Canada has a 52-week low of C$84.27 and a 52-week high of C$127.22. The firm has a market capitalization of C$42.03 billion, a price-to-earnings ratio of 12.02, a P/E/G ratio of 17.04 and a beta of 1.13.

National Bank of Canada (TSE:NA) last released its quarterly earnings data on Wednesday, August 28th. The financial services provider reported C$2.68 EPS for the quarter, beating the consensus estimate of C$2.50 by C$0.18. National Bank of Canada had a return on equity of 15.18% and a net margin of 34.50%. The company had revenue of C$2.98 billion for the quarter, compared to analyst estimates of C$2.95 billion. Sell-side analysts forecast that National Bank of Canada will post 10.4784081 earnings per share for the current fiscal year.

National Bank of Canada Announces Dividend

The firm 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 dividend of $1.10 per share. The ex-dividend date of this dividend 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 presently 42.84%.

Insider Activity at National Bank of Canada

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

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.