Desjardins Raises National Bank of Canada (TSE:NA) Price Target to C$116.00

National Bank of Canada (TSE:NA) had its target price boosted by Desjardins from C$109.00 to C$116.00 in a research report released on Monday, BayStreet.CA reports. Desjardins currently has a hold rating on the financial services provider’s stock.

A number of other brokerages have also issued reports on NA. Canaccord Genuity Group boosted their price target on shares of National Bank of Canada from C$107.00 to C$108.00 and gave the stock a hold rating in a research note on Thursday, February 29th. Veritas Investment Research reiterated a reduce rating on shares of National Bank of Canada in a report on Thursday, February 29th. Royal Bank of Canada upped their price objective on National Bank of Canada from C$105.00 to C$109.00 and gave the stock a sector perform rating in a research report on Thursday, February 29th. BMO Capital Markets lifted their target price on National Bank of Canada from C$109.00 to C$121.00 in a report on Friday, April 5th. Finally, TD Securities boosted their target price on National Bank of Canada from C$100.00 to C$110.00 and gave the stock a hold rating in a research note on Thursday, February 29th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of Hold and an average price target of C$108.58.

National Bank of Canada Price Performance

Shares of TSE NA opened at C$114.52 on Monday. National Bank of Canada has a 1 year low of C$84.27 and a 1 year high of C$115.14. The company has a 50 day simple moving average of C$111.47 and a 200-day simple moving average of C$101.89. The company has a market capitalization of C$38.92 billion, a P/E ratio of 12.05, a P/E/G ratio of 17.04 and a beta of 1.12.

National Bank of Canada (TSE:NA) last released its quarterly earnings results on Wednesday, February 28th. The financial services provider reported C$2.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$2.38 by C$0.21. National Bank of Canada had a net margin of 34.22% and a return on equity of 14.73%. The business had revenue of C$2.71 billion for the quarter, compared to the consensus estimate of C$2.72 billion. As a group, research analysts expect that National Bank of Canada will post 9.848222 EPS for the current year.

National Bank of Canada Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Monday, March 25th were issued a dividend of $1.06 per share. The ex-dividend date of this dividend was Friday, March 22nd. This represents a $4.24 dividend on an annualized basis and a yield of 3.70%. National Bank of Canada’s payout ratio is currently 44.63%.

Insider Transactions at National Bank of Canada

In related news, Director Yvon Charest purchased 331 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were purchased at an average cost of C$103.19 per share, for a total transaction of C$34,155.89. Insiders own 0.20% of the company’s stock.

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.