National Bank of Canada (TSE:NA) has been assigned a consensus rating of “Hold” from the eleven brokerages that are covering the stock, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1-year target price among analysts that have covered the stock in the last year is C$66.10.
Several equities analysts have issued reports on NA shares. Canaccord Genuity raised their price objective on National Bank of Canada from C$62.00 to C$66.00 in a report on Wednesday, November 1st. CIBC raised their price objective on National Bank of Canada from C$62.00 to C$68.00 in a report on Monday, November 13th. Barclays lowered National Bank of Canada from an “overweight” rating to an “equal weight” rating in a report on Tuesday, December 19th. Desjardins raised their price objective on National Bank of Canada from C$62.00 to C$64.00 in a report on Monday, December 4th. Finally, CSFB raised their price objective on National Bank of Canada from C$59.00 to C$61.00 in a report on Monday, December 4th.
In related news, insider Lisa Swiderski sold 4,000 shares of the firm’s stock in a transaction dated Monday, December 18th. The stock was sold at an average price of C$64.14, for a total transaction of C$256,560.00. Also, insider Ricardo Pascoe sold 48,340 shares of the firm’s stock in a transaction dated Tuesday, December 5th. The stock was sold at an average price of C$63.25, for a total value of C$3,057,505.00. In the last three months, insiders have sold 239,772 shares of company stock worth $15,288,811.
National Bank of Canada (TSE:NA) last posted its quarterly earnings results on Friday, December 1st. The financial services provider reported C$1.40 earnings per share for the quarter, beating the Zacks’ consensus estimate of C$1.38 by C$0.02. National Bank of Canada had a return on equity of 18.09% and a net margin of 30.81%. The company had revenue of C$1.70 billion for the quarter, compared to analysts’ expectations of C$1.69 billion.
The business also recently declared a quarterly dividend, which was paid on Thursday, February 1st. Investors of record on Wednesday, December 27th were issued a dividend of $0.60 per share. The ex-dividend date was Friday, December 22nd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.82%. This is a positive change from National Bank of Canada’s previous quarterly dividend of $0.58. National Bank of Canada’s dividend payout ratio (DPR) is currently 42.38%.
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About National Bank of Canada
National Bank of Canada (the Bank) is an integrated group, which provides financial services to consumers, small- and medium-sized enterprises (SMEs) and large corporations in its domestic market and also offers specialized services internationally. The Bank’s segments are Personal and Commercial, which includes the banking, financing and investing services offered to individuals and businesses, as well as insurance operations; Wealth Management, which consists of investment solutions, trust services, banking services, lending services and other wealth management solutions offered through internal and third-party distribution networks; Financial Markets, which includes banking services, investment banking services and financial solutions for institutional clients, and Other, which includes treasury operations, including the Bank’s asset and liability management, liquidity management and funding operations; certain non-recurring items, and the unallocated portion of corporate units.
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