National Bank of Canada (TSE:NA) Downgraded to Neutral at CIBC

National Bank of Canada (TSE:NA) was downgraded by equities researchers at CIBC from an “outperform” rating to a “neutral” rating in a note issued to investors on Friday, BayStreet.CA reports.

Several other analysts have also commented on the company. BMO Capital Markets lifted their price objective on National Bank of Canada from C$115.00 to C$125.00 in a report on Thursday, August 29th. Cormark boosted their price target on National Bank of Canada from C$122.00 to C$128.00 in a research note on Thursday, August 29th. UBS Group set a C$123.00 price objective on shares of National Bank of Canada and gave the stock a “buy” rating in a research note on Tuesday, July 2nd. Canaccord Genuity Group boosted their target price on shares of National Bank of Canada from C$113.00 to C$123.00 in a research report on Thursday, August 29th. Finally, 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 report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of C$122.64.

National Bank of Canada Stock Down 0.6 %

Shares of TSE NA opened at C$127.22 on Friday. The firm’s 50-day moving average price is C$118.56 and its 200-day moving average price is C$114.41. National Bank of Canada has a 52-week low of C$84.27 and a 52-week high of C$128.37. The company has a market cap of C$43.30 billion, a PE ratio of 12.39, a PEG ratio of 17.04 and a beta of 1.12.

National Bank of Canada (TSE:NA) last issued its earnings results on Wednesday, August 28th. The financial services provider reported C$2.68 earnings per share (EPS) for the quarter, topping the consensus estimate of C$2.50 by C$0.18. National Bank of Canada had a net margin of 34.50% and a return on equity of 15.18%. The company had revenue of C$2.98 billion for the quarter, compared to analysts’ expectations of C$2.95 billion. As a group, equities research analysts anticipate that National Bank of Canada will post 10.7004292 EPS for the current fiscal year.

Insider Buying and Selling

In other National Bank of Canada news, Director Yvon Charest bought 325 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was purchased at an average price of C$117.24 per share, for a total transaction of C$38,103.00. 0.20% of the stock is currently owned by 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.