National Bank of Canada (TSE:NA) Upgraded at Cibc World Mkts

Cibc World Mkts upgraded shares of National Bank of Canada (TSE:NA) from a hold rating to a strong-buy rating in a research report report published on Thursday,Zacks.com reports.

Several other brokerages have also weighed in on NA. Royal Bank of Canada lifted their price objective on National Bank of Canada from C$134.00 to C$145.00 and gave the stock a “sector perform” rating in a report on Wednesday. BMO Capital Markets increased their price target on shares of National Bank of Canada from C$125.00 to C$143.00 in a research note on Monday, November 18th. Scotiabank lifted their price objective on National Bank of Canada from C$129.00 to C$154.00 in a research note on Monday, November 25th. CIBC upped their price target on shares of National Bank of Canada from C$135.00 to C$141.00 in a report on Tuesday, November 26th. Finally, Barclays cut National Bank of Canada from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 21st. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of C$137.20.

National Bank of Canada Stock Down 0.2 %

Shares of TSE NA opened at C$132.49 on Thursday. The company has a market cap of C$45.10 billion, a price-to-earnings ratio of 12.90, a P/E/G ratio of 7.14 and a beta of 1.12. The business has a fifty day simple moving average of C$133.97 and a 200-day simple moving average of C$125.07. National Bank of Canada has a 12 month low of C$98.04 and a 12 month high of C$141.15.

National Bank of Canada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, February 1st. Shareholders of record on Monday, December 30th will be issued a $1.14 dividend. This is an increase from National Bank of Canada’s previous quarterly dividend of $1.10. The ex-dividend date is Monday, December 30th. This represents a $4.56 dividend on an annualized basis and a yield of 3.44%. National Bank of Canada’s dividend payout ratio is currently 42.84%.

Insiders Place Their Bets

In other news, Director Yvon Charest acquired 285 shares of National Bank of Canada 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. Also, insider Marie-Chantal Gingras sold 600 shares of the stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of C$132.79, for a total value of C$79,674.00. Insiders own 0.21% of the company’s stock.

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.