National Bank of Canada (TSE:NA) Downgraded by CIBC to "Underperform"

CIBC lowered shares of National Bank of Canada (TSE:NA - Free Report) from a neutral rating to an underperform rating in a research report sent to investors on Friday morning,BayStreet.CA reports. CIBC currently has C$115.00 price target on the financial services provider's stock, down from their prior price target of C$127.00.

Other research analysts have also recently issued research reports about the company. Cibc World Mkts cut National Bank of Canada from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 18th. Canaccord Genuity Group raised their target price on shares of National Bank of Canada from C$135.00 to C$142.00 in a report on Thursday, December 5th. Desjardins cut their price target on shares of 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. Cormark decreased their price objective on shares of National Bank of Canada from C$139.00 to C$137.00 in a research note on Thursday, February 27th. Finally, Royal Bank of Canada cut their target price on National Bank of Canada from C$145.00 to C$144.00 and set a "sector perform" rating for the company in a research note on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of C$135.20.

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National Bank of Canada Price Performance

TSE:NA traded up C$6.97 during trading hours on Friday, reaching C$113.98. 3,660,282 shares of the company were exchanged, compared to its average volume of 2,037,234. The company has a market capitalization of C$44.44 billion, a P/E ratio of 10.11, a P/E/G ratio of 7.14 and a beta of 1.12. The business has a 50 day moving average of C$120.65 and a 200 day moving average of C$128.11. National Bank of Canada has a 1-year low of C$105.43 and a 1-year high of C$141.15.

National Bank of Canada Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors 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 4.00%. National Bank of Canada's dividend payout ratio is currently 39.03%.

Insider Buying and Selling at National Bank of Canada

In other National Bank of Canada news, Director Yvon Charest bought 334 shares of National Bank of Canada stock in a transaction on Wednesday, February 19th. The shares were purchased at an average cost of C$125.90 per share, with a total value of C$42,050.60. Also, Senior Officer Lucie Blanchet purchased 2,147 shares of the firm's stock in a transaction on Thursday, March 13th. The stock was acquired at an average price of C$116.28 per share, with a total value of C$249,653.16. Over the last three months, insiders bought 13,673 shares of company stock worth $1,629,603. 0.21% of the stock is currently owned by insiders.

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.