Desjardins Boosts National Bank of Canada (TSE:NA) Price Target to C$118.00

National Bank of Canada (TSE:NA) had its price target hoisted by Desjardins from C$116.00 to C$118.00 in a research note published on Tuesday, BayStreet.CA reports. Desjardins currently has a hold rating on the financial services provider’s stock.

Other equities research analysts also recently issued reports about the company. Royal Bank of Canada upped their price objective on National Bank of Canada from C$109.00 to C$113.00 and gave the company a sector perform rating in a research report on Thursday, May 30th. Jefferies Financial Group lowered their price target on National Bank of Canada from C$123.00 to C$121.00 and set a hold rating for the company in a research report on Thursday, June 6th. BMO Capital Markets cut their price objective on shares of National Bank of Canada from C$121.00 to C$115.00 and set an outperform rating on the stock in a research report on Tuesday, June 18th. UBS Group set a C$123.00 target price on National Bank of Canada and gave the stock a buy rating in a research note on Tuesday, July 2nd. Finally, Scotiabank dropped their price objective on National Bank of Canada from C$119.00 to C$116.00 and set a hold rating on the stock in a research note on Tuesday, June 18th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, National Bank of Canada has a consensus rating of Hold and an average target price of C$114.69.

National Bank of Canada Stock Performance

NA stock opened at C$114.04 on Tuesday. The company has a market cap of C$38.76 billion, a price-to-earnings ratio of 12.00, a P/E/G ratio of 17.04 and a beta of 1.12. The business’s 50-day moving average is C$111.99 and its two-hundred day moving average is C$110.46. National Bank of Canada has a fifty-two week low of C$84.27 and a fifty-two week high of C$118.77.

National Bank of Canada (TSE:NA) last announced its quarterly earnings data on Wednesday, May 29th. The financial services provider reported C$2.54 EPS for the quarter, beating the consensus estimate of C$2.43 by C$0.11. The firm had revenue of C$2.84 billion for the quarter, compared to the consensus estimate of C$2.89 billion. National Bank of Canada had a net margin of 34.22% and a return on equity of 14.73%. Equities analysts predict that National Bank of Canada will post 9.8686007 earnings per share for the current year.

National Bank of Canada Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Monday, June 24th were given a dividend of $1.10 per share. This is a positive change from National Bank of Canada’s previous quarterly dividend of $1.06. This represents a $4.40 annualized dividend and a dividend yield of 3.86%. The ex-dividend date was Monday, June 24th. National Bank of Canada’s payout ratio is presently 44.63%.

Insider Buying and Selling

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 stock was sold at an average price of C$107.59, for a total transaction of C$946,792.00. In related news, Senior Officer Lucie Blanchet sold 8,800 shares of the business’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of C$107.59, for a total value of C$946,792.00. Also, Director Yvon Charest purchased 324 shares of the firm’s stock in a transaction on Tuesday, May 21st. The shares were purchased at an average cost of C$116.20 per share, for a total transaction of C$37,648.80. 0.20% of the stock is owned by insiders.

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.