CIBC Has Lowered Expectations for National Bank of Canada (TSE:NA) Stock Price

National Bank of Canada (TSE:NA) had its target price lowered by CIBC from C$135.00 to C$127.00 in a research note issued to investors on Wednesday morning,BayStreet.CA reports.

NA has been the subject of a number of other reports. TD Securities cut their target price on National Bank of Canada from C$135.00 to C$131.00 and set a “hold” rating for the company in a research report on Wednesday. Jefferies Financial Group cut their price objective 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 report on Thursday, February 27th. Cibc World Mkts downgraded shares of National Bank of Canada from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 18th. Barclays cut shares of National Bank of Canada from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 21st. Finally, BMO Capital Markets reduced their price target on shares of National Bank of Canada from C$143.00 to C$135.00 and set an “outperform” rating on the stock in a research report on Thursday, February 27th. Nine equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of C$136.40.

National Bank of Canada Trading Up 1.3 %

Shares of NA stock opened at C$117.42 on Wednesday. The stock has a market cap of C$45.78 billion, a P/E ratio of 10.42, a price-to-earnings-growth ratio of 7.14 and a beta of 1.12. National Bank of Canada has a 1 year low of C$105.43 and a 1 year high of C$141.15. The stock has a 50 day simple moving average of C$127.22 and a 200 day simple moving average of C$128.95.

National Bank of Canada Announces Dividend

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 paid a $1.14 dividend. This represents a $4.56 dividend on an annualized basis and a dividend yield of 3.88%. National Bank of Canada’s payout ratio is 39.03%.

Insider Activity at National Bank of Canada

In other National Bank of Canada news, Director Robert Paré purchased 4,200 shares of the company’s stock in a transaction dated Thursday, February 27th. The stock was purchased at an average price of C$120.34 per share, with a total value of C$505,428.00. Also, Director Yvon Charest purchased 334 shares of the business’s stock in a transaction dated 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. Insiders have bought a total of 10,526 shares of company stock valued at $1,262,020 in the last 90 days. 0.21% of the stock is owned by corporate 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.