National Bank of Canada (TSE:NA) Receives Average Rating of “Hold” from Brokerages

Shares of National Bank of Canada (TSE:NA) have been given a consensus recommendation of “Hold” by the twelve ratings firms that are covering the company, Marketbeat reports. Nine analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is C$165.83.

A number of brokerages have recently weighed in on NA. Desjardins boosted their price objective on shares of National Bank of Canada from C$175.00 to C$180.00 and gave the stock a “buy” rating in a report on Thursday, December 18th. BMO Capital Markets lifted their target price on shares of National Bank of Canada from C$172.00 to C$177.00 in a research report on Wednesday, December 17th. Raymond James Financial boosted their price target on shares of National Bank of Canada from C$168.00 to C$173.00 and gave the stock a “market perform” rating in a research note on Thursday, December 4th. CIBC upped their price target on shares of National Bank of Canada from C$174.00 to C$179.00 and gave the company a “neutral” rating in a research report on Thursday, December 11th. Finally, Scotiabank lifted their price objective on National Bank of Canada from C$166.00 to C$184.00 and gave the stock an “outperform” rating in a report on Thursday, December 4th.

National Bank of Canada Trading Down 0.6%

Shares of National Bank of Canada stock opened at C$172.08 on Friday. The firm has a market capitalization of C$67.16 billion, a PE ratio of 17.09, a price-to-earnings-growth ratio of 7.14 and a beta of 1.15. National Bank of Canada has a 12 month low of C$106.67 and a 12 month high of C$177.54. The business’s 50-day moving average price is C$168.40 and its 200-day moving average price is C$154.46.

National Bank of Canada (TSE:NA) last released its earnings results on Wednesday, December 3rd. The financial services provider reported C$2.82 earnings per share for the quarter. The company had revenue of C$3.70 billion during the quarter. National Bank of Canada had a return on equity of 15.43% and a net margin of 19.69%. As a group, analysts predict that National Bank of Canada will post 10.8360791 earnings per share for the current fiscal year.

National Bank of Canada Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, February 1st. Shareholders of record on Sunday, February 1st will be paid a $1.24 dividend. This is an increase from National Bank of Canada’s previous quarterly dividend of $1.18. The ex-dividend date of this dividend is Monday, December 29th. This represents a $4.96 dividend on an annualized basis and a yield of 2.9%. National Bank of Canada’s payout ratio is presently 46.08%.

About National Bank of Canada

National Bank of Canada is the sixth-largest Canadian bank. The bank offers integrated financial services, primarily in the province of Quebec as well as the city of Toronto. Operational segments include personal and commercial banking, wealth management, and a financial markets group.