National Bank of Canada (TSE:NA) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

National Bank of Canada (TSE:NA) had its price objective hoisted by Canaccord Genuity Group from C$123.00 to C$135.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. Canaccord Genuity Group’s price target suggests a potential downside of 0.39% from the stock’s current price.

Several other research firms have also recently issued reports on NA. CIBC cut National Bank of Canada from an “outperform” rating to a “neutral” rating in a research note on Friday, September 20th. Scotiabank increased their target price on National Bank of Canada from C$120.00 to C$129.00 in a research note on Thursday, August 29th. BMO Capital Markets raised their price objective on National Bank of Canada from C$125.00 to C$143.00 in a research note on Monday. Cormark raised their price objective on National Bank of Canada from C$122.00 to C$128.00 in a report on Thursday, August 29th. Finally, Desjardins lifted their target price on National Bank of Canada from C$116.00 to C$118.00 and gave the company a “hold” rating in a report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of C$126.36.

National Bank of Canada Stock Performance

National Bank of Canada stock traded up C$0.33 during mid-day trading on Tuesday, hitting C$135.53. The company’s stock had a trading volume of 231,601 shares, compared to its average volume of 1,727,016. National Bank of Canada has a one year low of C$87.92 and a one year high of C$135.53. The stock has a market cap of C$46.13 billion, a PE ratio of 13.18, a P/E/G ratio of 7.14 and a beta of 1.12. The company has a 50 day moving average of C$129.70 and a 200-day moving average of C$119.55.

National Bank of Canada (TSE:NA) last announced its quarterly earnings data on Wednesday, August 28th. The financial services provider reported C$2.68 earnings per share for the quarter, beating analysts’ consensus estimates of C$2.50 by C$0.18. The business had revenue of C$2.98 billion for the quarter, compared to analyst estimates 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, equities research analysts forecast that National Bank of Canada will post 10.8360791 EPS for the current fiscal year.

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.