National Bank of Canada (TSE:NA) Stock Rating Lowered by Cibc World Mkts

Cibc World Mkts cut shares of National Bank of Canada (TSE:NA - Free Report) from a strong-buy rating to a hold rating in a report published on Tuesday, February 18th,Zacks.com reports.

Several other equities research analysts have also issued reports on the stock. Scotiabank lowered 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 research note on Thursday, February 20th. BMO Capital Markets raised their price objective on National Bank of Canada from C$125.00 to C$143.00 in a report on Monday, November 18th. Royal Bank of Canada upped their target price on National Bank of Canada from C$134.00 to C$145.00 and gave the stock a "sector perform" rating in a research note on Wednesday, January 8th. CIBC dropped their price target on shares of National Bank of Canada from C$141.00 to C$135.00 in a research note on Tuesday, February 18th. Finally, UBS Group reduced their price objective on shares of National Bank of Canada from C$150.00 to C$145.00 in a research report on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of C$138.20.

National Bank of Canada Stock Up 1.9 %

Shares of TSE NA traded up C$2.41 during midday trading on Tuesday, reaching C$127.44. 2,038,964 shares of the stock were exchanged, compared to its average volume of 1,620,677. The firm has a market cap of C$49.69 billion, a price-to-earnings ratio of 11.30, a PEG ratio of 7.14 and a beta of 1.12. The firm has a 50-day simple moving average of C$129.57 and a two-hundred day simple moving average of C$128.80. National Bank of Canada has a twelve month low of C$102.90 and a twelve month high of C$141.15.

Remove Ads

National Bank of Canada Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, February 1st. Shareholders of record on Monday, December 30th were paid a $1.14 dividend. This represents a $4.56 dividend on an annualized basis and a yield of 3.58%. This is a positive change from National Bank of Canada's previous quarterly dividend of $1.10. The ex-dividend date of this dividend was Monday, December 30th. National Bank of Canada's dividend payout ratio (DPR) is 39.03%.

Insider Activity

In other news, Director Yvon Charest purchased 334 shares of the company's stock in a transaction dated Wednesday, February 19th. The stock was acquired at an average price of C$125.90 per share, with a total value of C$42,050.60. Also, insider Marie-Chantal Gingras sold 600 shares of the firm's stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of C$132.79, for a total transaction of C$79,674.00. Company 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.