Canaccord Genuity Group Forecasts Strong Price Appreciation for National Bank of Canada (TSE:NA) Stock

by · The Cerbat Gem

National Bank of Canada (TSE:NA – Free Report) had its price objective increased by Canaccord Genuity Group from C$123.00 to C$135.00 in a report released on Tuesday,BayStreet.CA reports.

Other equities research analysts have also issued research reports about the stock. Jefferies Financial Group boosted their price target on shares of National Bank of Canada from C$119.00 to C$126.00 in a report on Thursday, August 29th. TD Securities upped their target price on shares of National Bank of Canada from C$129.00 to C$140.00 in a report on Friday, November 15th. Cormark upped their price target on shares of National Bank of Canada from C$122.00 to C$128.00 in a research report on Thursday, August 29th. BMO Capital Markets upped their price target on shares of National Bank of Canada from C$125.00 to C$143.00 in a research report on Monday, November 18th. Finally, Cibc World Mkts downgraded shares of National Bank of Canada from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 20th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, National Bank of Canada presently has a consensus rating of “Hold” and an average price target of C$126.36.

Read Our Latest Stock Analysis on NA

National Bank of Canada Trading Up 0.3 %

Shares of National Bank of Canada stock opened at C$137.81 on Tuesday. The stock has a market capitalization of C$46.91 billion, a price-to-earnings ratio of 13.42, a PEG ratio of 7.14 and a beta of 1.12. National Bank of Canada has a 1-year low of C$87.92 and a 1-year high of C$138.10. The firm has a fifty day simple moving average of C$130.71 and a 200-day simple moving average of C$120.15.

National Bank of Canada (TSE:NA – Get Free Report) last released its earnings results 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. The firm had revenue of C$2.98 billion during the quarter, compared to analysts’ expectations of C$2.95 billion. National Bank of Canada had a net margin of 34.50% and a return on equity of 15.18%. As a group, research analysts predict that National Bank of Canada will post 10.8360791 earnings per share for the current year.

National Bank of Canada Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, September 30th were given a $1.10 dividend. The ex-dividend date was Friday, September 27th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 3.19%. National Bank of Canada’s dividend payout ratio is 42.84%.

Insider Activity at National Bank of Canada

In other National Bank of Canada news, Director Yvon Charest bought 285 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was acquired at an average cost of C$133.71 per share, with a total value of C$38,107.35. 0.21% of the stock is currently owned by corporate insiders.

About National Bank of Canada

(Get Free Report)

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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