CIBC Issues Positive Forecast for National Bank of Canada (TSE:NA) Stock Price

National Bank of Canada (TSE:NA) had its price target increased by CIBC from C$135.00 to C$141.00 in a research report sent to investors on Tuesday,BayStreet.CA reports.

Several other brokerages have also recently commented on NA. TD Securities raised their target price on shares of National Bank of Canada from C$129.00 to C$140.00 in a report on Friday, November 15th. Barclays lowered National Bank of Canada from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 21st. Cibc World Mkts cut shares of National Bank of Canada from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 20th. Cormark boosted their target price on shares of National Bank of Canada from C$122.00 to C$128.00 in a research report on Thursday, August 29th. Finally, Canaccord Genuity Group increased their price target on shares of National Bank of Canada from C$123.00 to C$135.00 in a research report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of C$132.40.

National Bank of Canada Stock Performance

Shares of NA stock opened at C$137.43 on Tuesday. The company has a market capitalization of C$46.78 billion, a price-to-earnings ratio of 13.38, a PEG ratio of 7.14 and a beta of 1.12. National Bank of Canada has a 52 week low of C$87.92 and a 52 week high of C$138.79. The company has a 50-day simple moving average of C$131.10 and a 200 day simple moving average of C$120.55.

National Bank of Canada (TSE:NA) last announced its earnings results on Wednesday, August 28th. The financial services provider reported C$2.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$2.50 by C$0.18. National Bank of Canada had a net margin of 34.50% and a return on equity of 15.18%. The company had revenue of C$2.98 billion during the quarter, compared to analysts’ expectations of C$2.95 billion. Sell-side analysts forecast that National Bank of Canada will post 10.8360791 EPS for the current year.

Insider Buying and Selling

In related news, Director Yvon Charest acquired 285 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The shares were bought at an average cost of C$133.71 per share, with a total value of C$38,107.35. 0.21% of the stock is owned by corporate 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.