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

National Bank of Canada (TSE:NA - Free Report) had its price objective increased by CIBC from C$125.00 to C$127.00 in a report released on Thursday,BayStreet.CA reports. They currently have an underperform rating on the financial services provider's stock.

Several other analysts have also commented on NA. Cormark cut their price objective on National Bank of Canada from C$139.00 to C$137.00 in a report on Thursday, February 27th. Jefferies Financial Group lowered National Bank of Canada from a "buy" rating to a "hold" rating and cut their price objective for the stock from C$147.00 to C$126.00 in a report on Monday, April 21st. Scotiabank raised National Bank of Canada to a "strong-buy" rating in a report on Thursday, May 15th. Cibc World Mkts lowered National Bank of Canada from a "hold" rating to a "strong sell" rating in a report on Friday, April 4th. Finally, BMO Capital Markets cut their price objective on National Bank of Canada from C$143.00 to C$135.00 and set an "outperform" rating for the company in a report on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of C$134.30.

National Bank of Canada Stock Performance

Shares of NA stock traded up C$0.30 during mid-day trading on Thursday, hitting C$133.80. The company's stock had a trading volume of 1,467,278 shares, compared to its average volume of 1,921,191. National Bank of Canada has a 52-week low of C$105.43 and a 52-week high of C$141.15. The business has a 50-day moving average price of C$122.42 and a 200 day moving average price of C$125.96. The stock has a market cap of C$52.17 billion, a price-to-earnings ratio of 11.87, a PEG ratio of 7.14 and a beta of 1.12.

National Bank of Canada Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Monday, June 30th will be given a dividend of $1.18 per share. This represents a $4.72 annualized dividend and a yield of 3.53%. This is a boost from National Bank of Canada's previous quarterly dividend of $1.14. National Bank of Canada's dividend payout ratio (DPR) is 39.03%.

Insider Buying and Selling at National Bank of Canada

In other news, Director Lynn Loewen acquired 1,000 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were bought at an average cost of C$117.93 per share, for a total transaction of C$117,930.00. Also, Senior Officer Lucie Blanchet bought 2,147 shares of the stock in a transaction dated Thursday, March 13th. The shares were bought at an average price of C$116.28 per share, for a total transaction of C$249,653.16. In the last 90 days, insiders have purchased 3,509 shares of company stock valued at $413,894. 0.21% of the stock is currently owned by corporate 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.