National Bank of Canada (TSE:NA) Sets New 1-Year Low After Analyst Downgrade

Shares of National Bank of Canada (TSE:NA) reached a new 52-week low during mid-day trading on Monday after UBS Group lowered their price target on the stock from C$145.00 to C$140.00. The stock traded as low as C$0.01 and last traded at C$119.60, with a volume of 462201 shares trading hands. The stock had previously closed at C$120.41.

Several other research firms have also recently commented on NA. Barclays cut National Bank of Canada from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 21st. Jefferies Financial Group reduced their price target on shares of National Bank of Canada from C$149.00 to C$147.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Desjardins lowered their price objective on shares of National Bank of Canada from C$140.00 to C$136.00 and set a “hold” rating on the stock in a research report on Thursday, February 27th. BMO Capital Markets cut their target price 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 report on Thursday, February 27th. Finally, TD Securities lowered their price target on National Bank of Canada from C$135.00 to C$131.00 and set a “hold” rating on the stock in a report on Thursday, February 27th. Nine research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of C$137.20.

Insider Buying and Selling

In other news, insider Marie-Chantal Gingras sold 600 shares of the company’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of C$132.79, for a total transaction of C$79,674.00. Also, Director Macky Tall bought 4,182 shares of the stock in a transaction dated Monday, March 3rd. The shares were purchased at an average price of C$119.14 per share, with a total value of C$498,243.48. In the last three months, insiders have acquired 10,526 shares of company stock valued at $1,262,020. Corporate insiders own 0.21% of the company’s stock.

National Bank of Canada Trading Down 1.5 %

The firm has a market capitalization of C$46.25 billion, a P/E ratio of 10.52, a price-to-earnings-growth ratio of 7.14 and a beta of 1.12. The firm has a 50 day moving average price of C$128.49 and a 200-day moving average price of C$129.09.

National Bank of Canada Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Monday, March 31st will be given a dividend of $1.14 per share. This represents a $4.56 dividend on an annualized basis and a yield of 3.84%. National Bank of Canada’s dividend payout ratio (DPR) is 39.03%.

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.