Desjardins Has Positive Forecast for TSE:NA FY2024 Earnings

National Bank of Canada (TSE:NA - Free Report) - Investment analysts at Desjardins upped their FY2024 EPS estimates for National Bank of Canada in a research note issued on Friday, November 1st. Desjardins analyst D. Young now forecasts that the financial services provider will post earnings per share of $10.40 for the year, up from their prior forecast of $10.35. Desjardins has a "Hold" rating and a $118.00 price target on the stock. The consensus estimate for National Bank of Canada's current full-year earnings is $10.84 per share. Desjardins also issued estimates for National Bank of Canada's Q4 2024 earnings at $2.59 EPS and FY2026 earnings at $11.45 EPS.

A number of other research analysts also recently weighed in on the company. TD Securities increased their price target on National Bank of Canada from C$123.00 to C$129.00 in a report on Thursday, August 29th. Cormark increased their target price on National Bank of Canada from C$122.00 to C$128.00 in a report on Thursday, August 29th. BMO Capital Markets boosted their price target on shares of National Bank of Canada from C$115.00 to C$125.00 in a research note on Thursday, August 29th. CIBC lowered shares of National Bank of Canada from an "outperform" rating to a "neutral" rating in a research note on Friday, September 20th. Finally, Jefferies Financial Group boosted their target price on shares of National Bank of Canada from C$119.00 to C$126.00 in a research report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, National Bank of Canada currently has a consensus rating of "Hold" and a consensus price target of C$122.64.

National Bank of Canada Stock Performance

Shares of National Bank of Canada stock traded up C$0.26 on Monday, reaching C$132.40. 1,181,234 shares of the company's stock were exchanged, compared to its average volume of 1,772,018. The firm's 50-day moving average is C$127.77 and its two-hundred day moving average is C$118.10. The company has a market capitalization of C$45.07 billion, a P/E ratio of 12.89, a price-to-earnings-growth ratio of 7.14 and a beta of 1.12. National Bank of Canada has a 52 week low of C$86.96 and a 52 week high of C$134.23.

National Bank of Canada (TSE:NA - Get Free Report) last released its earnings results on Wednesday, August 28th. The financial services provider reported C$2.68 EPS for the quarter, topping the consensus estimate of C$2.50 by C$0.18. National Bank of Canada had a return on equity of 15.18% and a net margin of 34.50%. The business had revenue of C$2.98 billion during the quarter, compared to analysts' expectations of C$2.95 billion.

Insider Activity at National Bank of Canada

In related news, Director Yvon Charest bought 325 shares of the company's stock in a transaction on Monday, August 19th. The shares were purchased at an average cost of C$117.24 per share, for a total transaction of C$38,103.00. 0.21% of the stock is currently owned by company insiders.

National Bank of Canada Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, September 30th were issued a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 3.32%. The ex-dividend date was Friday, September 27th. National Bank of Canada's dividend payout ratio is presently 42.84%.

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.