National Bank of Canada (NA) Given Consensus Rating of “Hold” by Brokerages

National Bank of Canada (TSE:NA) has been assigned an average recommendation of “Hold” from the twelve brokerages that are currently covering the company, reports. Three equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is C$60.18.

A number of brokerages have recently commented on NA. Eight Capital raised their target price on shares of National Bank of Canada from C$60.00 to C$62.00 in a research note on Thursday, June 1st. Barclays PLC raised shares of National Bank of Canada from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, May 23rd.

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National Bank of Canada (TSE NA) traded down 0.16% during trading on Friday, hitting $55.58. 674,533 shares of the company’s stock traded hands. The stock has a market cap of $18.98 billion and a P/E ratio of 11.77. The firm’s 50-day moving average price is $55.70 and its 200 day moving average price is $55.41. National Bank of Canada has a 12-month low of $45.11 and a 12-month high of $59.12.

National Bank of Canada (TSE:NA) last posted its quarterly earnings results on Wednesday, May 31st. The financial services provider reported $1.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.27 by $0.03. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.54 billion. National Bank of Canada had a net margin of 30.31% and a return on equity of 17.47%. Analysts anticipate that National Bank of Canada will post $5.31 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Monday, June 26th were issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 4.17%. This is a positive change from National Bank of Canada’s previous quarterly dividend of $0.56. The ex-dividend date was Thursday, June 22nd.

In other news, Director Andrée Savoie purchased 650 shares of the stock in a transaction that occurred on Monday, June 5th. The stock was acquired at an average cost of C$53.67 per share, with a total value of C$34,885.50.

About National Bank of Canada

Analyst Recommendations for National Bank of Canada (TSE:NA)

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