National Bank of Canada (TSE:NA) Sets New 12-Month Low on Analyst Downgrade

National Bank of Canada (TSE:NA) shares reached a new 52-week low during trading on Monday after UBS Group lowered their price target on the stock from C$145.00 to C$140.00. The company traded as low as C$0.01 and last traded at C$119.60, with a volume of 462201 shares trading hands. The stock had previously closed at C$120.41.

Several other research analysts also recently commented on the stock. Jefferies Financial Group decreased their price target on shares of National Bank of Canada from C$149.00 to C$147.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Scotiabank decreased their target price on shares of National Bank of Canada from C$154.00 to C$125.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 20th. Canaccord Genuity Group upped their price target on shares of National Bank of Canada from C$135.00 to C$142.00 in a research report on Thursday, December 5th. Royal Bank of Canada decreased their price objective on National Bank of Canada from C$145.00 to C$144.00 and set a “sector perform” rating on the stock in a report on Thursday, February 27th. Finally, TD Securities dropped their target price 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 Thursday, February 27th. Nine analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of C$137.20.

Insider Buying and Selling at National Bank of Canada

In other news, Director Macky Tall purchased 4,182 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were bought at an average cost of C$119.14 per share, for a total transaction of C$498,243.48. Also, Director Yvon Charest acquired 334 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was purchased at an average price of C$125.90 per share, with a total value of C$42,050.60. In the last ninety days, insiders have purchased 10,526 shares of company stock valued at $1,262,020. 0.21% of the stock is currently owned by company insiders.

National Bank of Canada Stock Down 1.5 %

The company’s fifty day moving average price is C$128.49 and its 200-day moving average price is C$129.09. The stock has a market capitalization of C$46.25 billion, a PE ratio of 10.52, a price-to-earnings-growth ratio of 7.14 and a beta of 1.12.

National Bank of Canada Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Monday, March 31st will be issued a dividend of $1.14 per share. This represents a $4.56 annualized dividend and a dividend yield of 3.84%. National Bank of Canada’s payout ratio is presently 39.03%.

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.