CIBC Increases National Bank of Canada (TSE:NA) Price Target to C$135.00

National Bank of Canada (TSE:NA) had its target price raised by CIBC from C$134.00 to C$135.00 in a research report released on Friday morning, BayStreet.CA reports.

Several other equities research analysts also recently weighed in on NA. Royal Bank of Canada upped their target price on shares of National Bank of Canada from C$113.00 to C$116.00 in a research note on Thursday, August 29th. Scotiabank lifted their target price on National Bank of Canada from C$120.00 to C$129.00 in a report on Thursday, August 29th. TD Securities upped their price target on National Bank of Canada from C$123.00 to C$129.00 in a report on Thursday, August 29th. Cormark lifted their price objective on National Bank of Canada from C$122.00 to C$128.00 in a research note on Thursday, August 29th. Finally, Jefferies Financial Group upped their target price on shares of National Bank of Canada from C$119.00 to C$126.00 in a research note on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, National Bank of Canada currently has an average rating of Hold and an average price target of C$121.42.

National Bank of Canada Stock Up 0.9 %

TSE:NA opened at C$124.59 on Friday. National Bank of Canada has a 52 week low of C$84.27 and a 52 week high of C$127.22. The stock’s fifty day moving average is C$115.64 and its two-hundred day moving average is C$113.03. The stock has a market capitalization of C$42.41 billion, a price-to-earnings ratio of 12.13, a price-to-earnings-growth ratio of 17.04 and a beta of 1.13.

National Bank of Canada (TSE:NA) last announced its earnings results on Wednesday, August 28th. The financial services provider reported C$2.68 EPS for the quarter, beating analysts’ consensus estimates of C$2.50 by C$0.18. The company had revenue of C$2.98 billion during the quarter, compared to analysts’ expectations of C$2.95 billion. National Bank of Canada had a return on equity of 15.18% and a net margin of 34.50%. On average, sell-side analysts expect that National Bank of Canada will post 10.4784081 EPS for the current fiscal year.

National Bank of Canada Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Monday, September 30th will be given a dividend of $1.10 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $4.40 annualized dividend and a dividend yield of 3.53%. National Bank of Canada’s dividend payout ratio is presently 42.84%.

Insider Activity

In related news, Senior Officer Lucie Blanchet sold 8,800 shares of National Bank of Canada stock in a transaction on Thursday, June 20th. The shares were sold at an average price of C$107.59, for a total transaction of C$946,792.00. In other National Bank of Canada news, Director Yvon Charest bought 325 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were acquired at an average cost of C$117.24 per share, with a total value of C$38,103.00. Also, Senior Officer Lucie Blanchet sold 8,800 shares of the stock in a transaction on Thursday, June 20th. The stock was sold at an average price of C$107.59, for a total transaction of C$946,792.00. 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.