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

National Bank of Canada (TSE:NA) had its price target decreased by equities researchers at CIBC from C$135.00 to C$127.00 in a research report issued on Wednesday,BayStreet.CA reports. CIBC’s price objective points to a potential upside of 9.57% from the company’s previous close.

Several other equities analysts have also recently weighed in on the company. Cibc World Mkts cut National Bank of Canada from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. Desjardins reduced their price target on National Bank of Canada from C$140.00 to C$136.00 and set a “hold” rating for the company in a report on Thursday, February 27th. TD Securities reduced their price target on National Bank of Canada from C$135.00 to C$131.00 and set a “hold” rating for the company in a report on Wednesday. UBS Group reduced their price target on National Bank of Canada from C$145.00 to C$140.00 in a report on Friday, February 28th. Finally, Canaccord Genuity Group lifted their price target on National Bank of Canada from C$135.00 to C$142.00 in a report on Thursday, December 5th. Nine investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, National Bank of Canada has a consensus rating of “Hold” and an average price target of C$136.40.

National Bank of Canada Price Performance

Shares of TSE NA opened at C$115.91 on Wednesday. The stock has a market capitalization of C$45.19 billion, a price-to-earnings ratio of 10.28, a PEG ratio of 7.14 and a beta of 1.12. The business has a 50-day moving average of C$127.52 and a 200-day moving average of C$128.93. National Bank of Canada has a fifty-two week low of C$105.43 and a fifty-two week high of C$141.15.

Insiders Place Their Bets

In other news, Senior Officer Brigitte Hébert sold 400 shares of National Bank of Canada stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of C$132.46, for a total value of C$52,984.00. Also, Director Yvon Charest purchased 334 shares of the company’s stock in a transaction dated Wednesday, February 19th. The stock was acquired at an average price of C$125.90 per share, with a total value of C$42,050.60. Insiders purchased 10,526 shares of company stock worth $1,262,020 over the last three months. 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.