National Bank of Canada (TSE:NA) Cut to Hold at Cormark

Cormark lowered shares of National Bank of Canada (TSE:NA) from a moderate buy rating to a hold rating in a research note released on Friday,Zacks.com reports.

Other equities research analysts also recently issued reports about the company. Scotiabank lowered their target price on National Bank of Canada from C$154.00 to C$125.00 and set a “sector perform” rating for the company in a report on Thursday. TD Securities reduced their price target on shares of National Bank of Canada from C$140.00 to C$138.00 in a report on Thursday, December 5th. BMO Capital Markets lifted their price target on shares of National Bank of Canada from C$125.00 to C$143.00 in a research note on Monday, November 18th. UBS Group cut their price objective on shares of National Bank of Canada from C$150.00 to C$145.00 in a research report on Friday, February 14th. Finally, Jefferies Financial Group decreased their target price on National Bank of Canada from C$153.00 to C$149.00 in a research report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of C$138.20.

National Bank of Canada Stock Performance

Shares of NA opened at C$124.43 on Friday. National Bank of Canada has a 52 week low of C$102.90 and a 52 week high of C$141.15. The stock has a market capitalization of C$48.51 billion, a price-to-earnings ratio of 11.04, a PEG ratio of 7.14 and a beta of 1.12. The stock has a fifty day moving average of C$129.74 and a 200-day moving average of C$128.71.

National Bank of Canada Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, February 1st. Shareholders of record on Monday, December 30th were paid a dividend of $1.14 per share. The ex-dividend date of this dividend was Monday, December 30th. This represents a $4.56 dividend on an annualized basis and a yield of 3.66%. This is an increase from National Bank of Canada’s previous quarterly dividend of $1.10. National Bank of Canada’s payout ratio is 39.03%.

Insider Transactions at National Bank of Canada

In other National Bank of Canada news, insider Marie-Chantal Gingras sold 600 shares of the company’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of C$132.79, for a total value of C$79,674.00. Also, Director Yvon Charest acquired 334 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was purchased at an average price of C$125.90 per share, with a total value of C$42,050.60. 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.