National Bank of Canada (TSE:NA) Downgraded by Cibc World Mkts to Hold

Cibc World Mkts downgraded shares of National Bank of Canada (TSE:NA) from a strong-buy rating to a hold rating in a report released on Tuesday,Zacks.com reports.

A number of other brokerages have also commented on NA. BMO Capital Markets boosted their target price on National Bank of Canada from C$125.00 to C$143.00 in a research report on Monday, November 18th. CIBC decreased their target price on National Bank of Canada from C$141.00 to C$135.00 in a research report on Tuesday. TD Securities decreased their target price on National Bank of Canada from C$140.00 to C$138.00 in a research report on Thursday, December 5th. Royal Bank of Canada boosted their target price on National Bank of Canada from C$134.00 to C$145.00 and gave the company a “sector perform” rating in a research report on Wednesday, January 8th. Finally, Canaccord Genuity Group boosted their price objective on National Bank of Canada from C$135.00 to C$142.00 in a report on Thursday, December 5th. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of C$138.20.

National Bank of Canada Price Performance

Shares of National Bank of Canada stock opened at C$123.48 on Tuesday. National Bank of Canada has a one year low of C$102.90 and a one year high of C$141.15. The firm has a market capitalization of C$48.14 billion, a price-to-earnings ratio of 10.95, a PEG ratio of 7.14 and a beta of 1.12. The business has a 50-day simple moving average of C$129.93 and a 200 day simple moving average of C$128.46.

National Bank of Canada Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, February 1st. Stockholders of record on Monday, December 30th were paid a $1.14 dividend. This represents a $4.56 dividend on an annualized basis and a dividend yield of 3.69%. The ex-dividend date was Monday, December 30th. This is an increase from National Bank of Canada’s previous quarterly dividend of $1.10. National Bank of Canada’s payout ratio is presently 39.03%.

Insider Transactions at National Bank of Canada

In other news, Director Yvon Charest acquired 334 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The shares were acquired at an average price of C$125.90 per share, for a total transaction of C$42,050.60. Also, insider Marie-Chantal Gingras sold 600 shares of the company’s stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of C$132.79, for a total value of C$79,674.00. Company insiders own 0.21% of the company’s stock.

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.