CIBC Lowers National Bank of Canada (TSE:NA) Price Target to C$127.00

National Bank of Canada (TSE:NA - Free Report) had its target price trimmed by CIBC from C$135.00 to C$127.00 in a report published on Wednesday,BayStreet.CA reports.

Other analysts have also recently issued reports about the stock. Cibc World Mkts cut shares of National Bank of Canada from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 18th. Scotiabank dropped their target price 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 report on Thursday, February 20th. UBS Group dropped their target price on shares of National Bank of Canada from C$145.00 to C$140.00 in a report on Friday, February 28th. TD Securities dropped their target price on shares of National Bank of Canada from C$135.00 to C$131.00 and set a "hold" rating on the stock in a report on Wednesday. Finally, Desjardins dropped their target price on shares of National Bank of Canada from C$140.00 to C$136.00 and set a "hold" rating on the stock in a report on Thursday, February 27th. Nine research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, National Bank of Canada has an average rating of "Hold" and an average target price of C$136.40.

National Bank of Canada Price Performance

NA traded up C$1.51 during trading on Wednesday, hitting C$117.42. The company had a trading volume of 1,367,804 shares, compared to its average volume of 1,786,700. The company has a market cap of C$45.78 billion, a PE ratio of 10.42, a P/E/G ratio of 7.14 and a beta of 1.12. The business has a 50-day moving average of C$127.22 and a 200-day moving average of C$129.14. National Bank of Canada has a 1-year low of C$105.43 and a 1-year high of C$141.15.

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National Bank of Canada Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Monday, March 31st will be given a dividend of $1.14 per share. This represents a $4.56 annualized dividend and a dividend yield of 3.88%. National Bank of Canada's dividend payout ratio is currently 39.03%.

Insider Transactions at National Bank of Canada

In related news, Director Macky Tall bought 4,182 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The stock was purchased at an average price of C$119.14 per share, for a total transaction of C$498,243.48. Also, insider Marie-Chantal Gingras sold 600 shares of the stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of C$132.79, for a total transaction of C$79,674.00. Over the last quarter, insiders bought 10,526 shares of company stock worth $1,262,020. 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.