National Bank of Canada (TSE:NA) Upgraded at Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce upgraded shares of National Bank of Canada (TSE:NA) from a hold rating to an outperform rating in a report issued on Friday, Marketbeat reports. They currently have C$189.00 price target on the financial services provider’s stock, up from their prior price target of C$179.00.

NA has been the subject of several other research reports. BMO Capital Markets upped their price objective on shares of National Bank of Canada from C$172.00 to C$177.00 in a research report on Wednesday, December 17th. Jefferies Financial Group upped their price target on shares of National Bank of Canada from C$156.00 to C$165.00 in a report on Wednesday, February 11th. Desjardins lifted their price objective on shares of National Bank of Canada from C$180.00 to C$182.00 and gave the company a “buy” rating in a research note on Monday, February 9th. Barclays upped their target price on National Bank of Canada from C$147.00 to C$158.00 and gave the stock an “equal weight” rating in a research note on Monday, November 24th. Finally, Canaccord Genuity Group lifted their price target on National Bank of Canada from C$170.00 to C$180.00 and gave the company a “hold” rating in a research note on Thursday. Four research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of C$168.92.

National Bank of Canada Price Performance

Shares of TSE:NA opened at C$174.78 on Friday. The business’s 50 day simple moving average is C$171.03 and its 200 day simple moving average is C$159.57. National Bank of Canada has a 1 year low of C$106.67 and a 1 year high of C$177.54. The company has a market capitalization of C$68.22 billion, a P/E ratio of 17.36, a P/E/G ratio of 7.14 and a beta of 1.05.

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 firm 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%. On average, sell-side analysts anticipate that National Bank of Canada will post 10.8360791 EPS for the current fiscal year.

National Bank of Canada Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, February 1st. Investors of record on Sunday, February 1st were given a dividend of $1.24 per share. The ex-dividend date was Monday, December 29th. This represents a $4.96 dividend on an annualized basis and a yield of 2.8%. This is an increase from National Bank of Canada’s previous quarterly dividend of $1.18. National Bank of Canada’s dividend 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.