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

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

Several other brokerages have also recently commented on NA. TD Securities raised 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 report on Thursday, February 29th. BMO Capital Markets lifted their target price on shares of National Bank of Canada from C$109.00 to C$121.00 in a research report on Friday, April 5th. Veritas Investment Research reissued a reduce rating on shares of National Bank of Canada in a research report on Thursday, February 29th. Jefferies Financial Group lifted their price objective on National Bank of Canada from C$109.00 to C$113.00 and gave the company a hold rating in a report on Thursday, February 29th. Finally, CIBC dropped their target price on National Bank of Canada from C$110.00 to C$109.00 and set an outperform rating for the company in a report on Friday, March 8th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, National Bank of Canada currently has a consensus rating of Hold and a consensus price target of C$108.58.

National Bank of Canada Stock Performance

TSE:NA opened at C$114.52 on Monday. The firm’s 50-day moving average is C$111.47 and its 200-day moving average is C$101.89. National Bank of Canada has a 52-week low of C$84.27 and a 52-week high of C$115.14. The company has a market cap of C$38.92 billion, a price-to-earnings ratio of 12.05, a PEG ratio of 17.04 and a beta of 1.12.

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

National Bank of Canada Dividend Announcement

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

Insider Activity at National Bank of Canada

In related news, Director Yvon Charest acquired 331 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were purchased at an average price of C$103.19 per share, with a total value of C$34,155.89. 0.20% of the stock is currently owned by company 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.