National Bank of Canada (TSE:NA – Get Free Report) had its price target boosted by research analysts at Desjardins from C$109.00 to C$116.00 in a report issued on Monday, BayStreet.CA reports. The firm currently has a “hold” rating on the financial services provider’s stock. Desjardins’ target price indicates a potential upside of 2.10% from the stock’s current price.
Several other research firms also recently issued reports on NA. CIBC lowered their price objective on National Bank of Canada from C$110.00 to C$109.00 and set an “outperform” rating for the company in a research note on Friday, March 8th. Royal Bank of Canada lifted their price target on shares of National Bank of Canada from C$105.00 to C$109.00 and gave the stock a “sector perform” rating in a report on Thursday, February 29th. Veritas Investment Research restated a “reduce” rating on shares of National Bank of Canada in a report on Thursday, February 29th. Scotiabank lifted their target price on National Bank of Canada from C$107.00 to C$109.00 and gave the stock a “sector perform” rating in a report on Thursday, February 29th. Finally, TD Securities increased their price target on National Bank of Canada from C$100.00 to C$110.00 and gave the company a “hold” rating in a research note on Thursday, February 29th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of C$108.58.
National Bank of Canada Trading Down 0.5 %
National Bank of Canada (TSE:NA – Get Free Report) last released its quarterly earnings data on Wednesday, February 28th. The financial services provider reported C$2.59 earnings per share 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 company had revenue of C$2.71 billion for the quarter, compared to the consensus estimate of C$2.72 billion. As a group, research analysts anticipate that National Bank of Canada will post 9.848222 earnings per share for the current year.
Insiders Place Their Bets
In related news, Director Yvon Charest acquired 331 shares of the stock in a transaction dated Tuesday, February 20th. The stock was bought at an average price of C$103.19 per share, for a total transaction of C$34,155.89. Company insiders own 0.20% 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.
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