Desjardins Raises National Bank of Canada (TSE:NA) Price Target to C$116.00

National Bank of Canada (TSE:NA) had its price target raised by Desjardins from C$109.00 to C$116.00 in a report released on Monday, BayStreet.CA reports. Desjardins currently has a hold rating on the financial services provider’s stock.

Other equities analysts have also issued reports about the stock. TD Securities boosted their price target on shares of National Bank of Canada from C$100.00 to C$110.00 and gave the company a hold rating in a research report on Thursday, February 29th. BMO Capital Markets lifted their price objective on National Bank of Canada from C$109.00 to C$121.00 in a research report on Friday, April 5th. Canaccord Genuity Group increased their target price on National Bank of Canada from C$107.00 to C$108.00 and gave the stock a hold rating in a report on Thursday, February 29th. Veritas Investment Research reiterated a reduce rating on shares of National Bank of Canada in a research report on Thursday, February 29th. Finally, CIBC lowered their price objective on shares of National Bank of Canada from C$110.00 to C$109.00 and set an outperform rating for the company in a research report on Friday, March 8th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, National Bank of Canada has an average rating of Hold and a consensus target price of C$108.58.

National Bank of Canada Price Performance

NA opened at C$114.13 on Monday. The company has a market capitalization of C$38.79 billion, a P/E ratio of 12.01, a P/E/G ratio of 17.04 and a beta of 1.12. The firm’s fifty day moving average price is C$111.27 and its two-hundred day moving average price is C$101.69. National Bank of Canada has a fifty-two week low of C$84.27 and a fifty-two week high of C$115.14.

National Bank of Canada (TSE:NA) last announced its quarterly earnings results on Wednesday, February 28th. The financial services provider reported C$2.59 EPS for the quarter, topping analysts’ consensus estimates of C$2.38 by C$0.21. The firm had revenue of C$2.71 billion during the quarter, compared to analysts’ expectations of C$2.72 billion. National Bank of Canada had a net margin of 34.22% and a return on equity of 14.73%. On average, equities research analysts expect that National Bank of Canada will post 9.848222 EPS for the current fiscal year.

National Bank of Canada Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Monday, March 25th were paid a $1.06 dividend. This represents a $4.24 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date was Friday, March 22nd. National Bank of Canada’s dividend payout ratio (DPR) is currently 44.63%.

Insider Activity at National Bank of Canada

In other news, Director Yvon Charest purchased 331 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were acquired at an average cost of C$103.19 per share, for a total transaction of C$34,155.89. 0.20% of the stock is currently owned by corporate 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.