CIBC Downgrades National Bank of Canada (TSE:NA) to Underperform

National Bank of Canada (TSE:NA) was downgraded by analysts at CIBC from a “neutral” rating to an “underperform” rating in a research note issued to investors on Friday,BayStreet.CA reports. They currently have a C$115.00 price target on the financial services provider’s stock, down from their prior price target of C$127.00. CIBC’s price target would suggest a potential upside of 1.81% from the stock’s previous close.

Several other research analysts have also recently weighed in on the stock. Cormark lowered their price target on shares of National Bank of Canada from C$139.00 to C$137.00 in a research report on Thursday, February 27th. BMO Capital Markets dropped their price target on shares of National Bank of Canada from C$143.00 to C$135.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th. TD Securities cut their price target on shares of National Bank of Canada from C$135.00 to C$131.00 and set a “hold” rating for the company in a report on Wednesday, March 5th. Jefferies Financial Group decreased their price objective on National Bank of Canada from C$149.00 to C$147.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Finally, Scotiabank cut 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 research note on Thursday, February 20th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, National Bank of Canada currently has a consensus rating of “Hold” and a consensus target price of C$135.20.

National Bank of Canada Stock Performance

TSE NA opened at C$112.96 on Friday. The stock’s fifty day moving average is C$121.93 and its two-hundred day moving average is C$128.51. The firm has a market capitalization of C$44.04 billion, a P/E ratio of 10.02, a price-to-earnings-growth ratio of 7.14 and a beta of 1.12. National Bank of Canada has a fifty-two week low of C$105.43 and a fifty-two week high of C$141.15.

Insider Activity at National Bank of Canada

In related news, Senior Officer Lucie Blanchet acquired 2,147 shares of National Bank of Canada stock in a transaction dated Thursday, March 13th. The shares were acquired at an average cost of C$116.28 per share, for a total transaction of C$249,653.16. Also, Director Robert Paré bought 4,200 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The stock was bought at an average price of C$120.34 per share, with a total value of C$505,428.00. In the last 90 days, insiders have bought 13,673 shares of company stock worth $1,629,603. 0.21% of the stock is currently owned by company insiders.

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.