BMO Capital Markets Cuts National Bank of Canada (TSE:NA) Price Target to C$135.00

National Bank of Canada (TSE:NA) had its target price lowered by BMO Capital Markets from C$143.00 to C$135.00 in a report issued on Thursday morning,BayStreet.CA reports. BMO Capital Markets currently has an outperform rating on the financial services provider’s stock.

Several other brokerages have also weighed in on NA. Cormark lowered their price objective on National Bank of Canada from C$139.00 to C$137.00 in a research report on Thursday. UBS Group lowered their price objective on National Bank of Canada from C$150.00 to C$145.00 in a research report on Friday, February 14th. Desjardins lowered their price objective on National Bank of Canada from C$140.00 to C$136.00 and set a “hold” rating for the company in a research report on Thursday. Cibc World Mkts lowered National Bank of Canada from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 18th. Finally, Scotiabank lowered their price objective 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 report on Thursday, February 20th. Nine equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of C$137.20.

National Bank of Canada Stock Performance

TSE:NA opened at C$120.41 on Thursday. The stock has a market cap of C$46.95 billion, a PE ratio of 10.68, a P/E/G ratio of 7.14 and a beta of 1.12. National Bank of Canada has a one year low of C$104.84 and a one year high of C$141.15. The stock has a 50 day moving average price of C$128.77 and a 200 day moving average price of C$128.95.

National Bank of Canada Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Monday, March 31st will be given a dividend of $1.14 per share. This represents a $4.56 annualized dividend and a dividend yield of 3.79%. National Bank of Canada’s dividend payout ratio is currently 39.03%.

Insider Activity at National Bank of Canada

In related news, Director Robert Paré bought 4,200 shares of the stock in a transaction that occurred on Thursday, February 27th. The stock was purchased at an average cost of C$120.34 per share, with a total value of C$505,428.00. Also, insider Marie-Chantal Gingras sold 600 shares of National Bank of Canada stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of C$132.79, for a total value of C$79,674.00. Over the last three months, insiders purchased 6,344 shares of company stock worth $763,776. Company insiders own 0.21% of the company’s stock.

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.