National Bank of Canada (TSE:NA) has received an average recommendation of “Hold” from the eleven analysts that are currently covering the company, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is C$66.10.
Several brokerages recently issued reports on NA. CSFB lifted their price objective on National Bank of Canada from C$61.00 to C$64.00 in a research report on Friday, January 19th. BMO Capital Markets restated a “market perform” rating and set a C$66.00 price objective on shares of National Bank of Canada in a research report on Tuesday, December 12th. Barclays downgraded National Bank of Canada from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, December 19th. TD Securities lifted their price objective on National Bank of Canada from C$64.00 to C$66.00 and gave the stock a “hold” rating in a research report on Monday, December 4th. Finally, Scotiabank lifted their price objective on National Bank of Canada from C$68.00 to C$69.00 and gave the stock a “sector perform” rating in a research report on Monday, December 4th.
In other news, insider Lisa Swiderski sold 4,000 shares of the business’s stock in a transaction on Monday, December 18th. The shares were sold at an average price of C$64.14, for a total transaction of C$256,560.00. Also, insider Ricardo Pascoe sold 48,340 shares of the business’s stock in a transaction on Tuesday, December 5th. The shares were sold at an average price of C$63.25, for a total transaction of C$3,057,505.00. Insiders sold a total of 239,772 shares of company stock valued at $15,288,811 over the last ninety days.
National Bank of Canada (TSE:NA) last issued its quarterly earnings data on Friday, December 1st. The financial services provider reported C$1.40 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of C$1.38 by C$0.02. National Bank of Canada had a return on equity of 18.09% and a net margin of 30.81%. The firm had revenue of C$1.70 billion during the quarter, compared to the consensus estimate of C$1.69 billion.
The company also recently announced a quarterly dividend, which was paid on Thursday, February 1st. Shareholders of record on Wednesday, December 27th were paid a $0.60 dividend. This is a boost from National Bank of Canada’s previous quarterly dividend of $0.58. This represents a $2.40 annualized dividend and a yield of 3.82%. The ex-dividend date of this dividend was Friday, December 22nd. National Bank of Canada’s payout ratio is presently 42.38%.
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About National Bank of Canada
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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