National Bank of Canada (TSE:NA) has received a consensus recommendation of “Hold” from the ten research firms that are covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price objective among brokers that have covered the stock in the last year is C$67.50.
NA has been the subject of a number of recent research reports. Barclays downgraded National Bank of Canada from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, December 19th. BMO Capital Markets reaffirmed a “market perform” rating and issued a C$66.00 target price on shares of National Bank of Canada in a research note on Tuesday, December 12th. CIBC raised their target price on National Bank of Canada from C$62.00 to C$68.00 in a research note on Monday, November 13th. CSFB raised their target price on National Bank of Canada from C$61.00 to C$64.00 in a research note on Friday, January 19th. Finally, Royal Bank of Canada raised their target price on National Bank of Canada from C$70.00 to C$71.00 in a research note on Wednesday, February 14th.
In related news, insider Ricardo Pascoe sold 48,340 shares of the firm’s stock in a transaction dated Tuesday, December 5th. The stock was sold at an average price of C$63.25, for a total transaction of C$3,057,505.00. Also, insider Lisa Swiderski sold 4,000 shares of the firm’s stock in a transaction dated Monday, December 18th. The shares were sold at an average price of C$64.14, for a total value of C$256,560.00. Insiders have sold a total of 239,772 shares of company stock valued at $15,288,811 over the last three months.
National Bank of Canada (TSE:NA) last issued its earnings results on Friday, December 1st. The financial services provider reported C$1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$1.38 by C$0.02. National Bank of Canada had a return on equity of 18.84% and a net margin of 30.45%. The business had revenue of C$1.70 billion during the quarter, compared to the consensus estimate of C$1.69 billion.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 1st. Investors of record on Monday, March 26th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date is Friday, March 23rd. National Bank of Canada’s payout ratio is 41.45%.
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National Bank of Canada Company Profile
National Bank of Canada (the Bank) is an integrated group, which provides financial services to consumers, small- and medium-sized enterprises (SMEs) and large corporations in its domestic market and also offers specialized services internationally. The Bank’s segments are Personal and Commercial, which includes the banking, financing and investing services offered to individuals and businesses, as well as insurance operations; Wealth Management, which consists of investment solutions, trust services, banking services, lending services and other wealth management solutions offered through internal and third-party distribution networks; Financial Markets, which includes banking services, investment banking services and financial solutions for institutional clients, and Other, which includes treasury operations, including the Bank’s asset and liability management, liquidity management and funding operations; certain non-recurring items, and the unallocated portion of corporate units.
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