National Bank of Canada (TSE:NA) Sets New 1-Year Low on Analyst Downgrade

National Bank of Canada (TSE:NA - Get Free Report)'s share price hit a new 52-week low during trading on Monday after CIBC lowered their price target on the stock from C$135.00 to C$127.00. The company traded as low as C$0.01 and last traded at C$119.60, with a volume of 462201 shares traded. The stock had previously closed at C$120.41.

Other research analysts have also recently issued research reports about the company. UBS Group reduced their target price on National Bank of Canada from C$145.00 to C$140.00 in a report on Friday, February 28th. Cormark lowered their price target on National Bank of Canada from C$139.00 to C$137.00 in a report on Thursday, February 27th. Desjardins reduced their price objective on National Bank of Canada from C$140.00 to C$136.00 and set a "hold" rating for the company in a report on Thursday, February 27th. Cibc World Mkts lowered shares of National Bank of Canada from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 18th. Finally, BMO Capital Markets reduced their target price on National Bank of Canada from C$143.00 to C$135.00 and set an "outperform" rating on the stock in a research note on Thursday, February 27th. Nine equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, National Bank of Canada presently has a consensus rating of "Hold" and an average price target of C$136.40.

Insider Buying and Selling

In related news, insider Marie-Chantal Gingras sold 600 shares of the business's stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of C$132.79, for a total transaction of C$79,674.00. Also, Senior Officer Brigitte Hébert sold 400 shares of the stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of C$132.46, for a total transaction of C$52,984.00. In the last quarter, insiders have purchased 10,526 shares of company stock valued at $1,262,020. 0.21% of the stock is owned by corporate insiders.

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National Bank of Canada Stock Performance

The firm's fifty day simple moving average is C$127.86 and its 200 day simple moving average is C$128.92. The stock has a market capitalization of C$45.19 billion, a price-to-earnings ratio of 10.28, a P/E/G ratio of 7.14 and a beta of 1.12.

National Bank of Canada Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Monday, March 31st will be given a dividend of $1.14 per share. This represents a $4.56 dividend on an annualized basis and a yield of 3.93%. National Bank of Canada's dividend payout ratio (DPR) is 39.03%.

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.