National Bank of Canada (TSE:NA) Price Target Cut to C$119.00 by Analysts at Jefferies Financial Group

National Bank of Canada (TSE:NA) had its target price lowered by Jefferies Financial Group from C$121.00 to C$119.00 in a research report sent to investors on Monday morning, BayStreet.CA reports. The brokerage currently has a hold rating on the financial services provider’s stock.

Several other equities research analysts have also recently commented on the company. CIBC raised their target price on National Bank of Canada from C$109.00 to C$124.00 and gave the stock an outperform rating in a research note on Thursday, May 30th. TD Securities boosted their target price on shares of National Bank of Canada from C$121.00 to C$123.00 in a research report on Thursday, August 8th. Canaccord Genuity Group raised their price target on shares of National Bank of Canada from C$109.00 to C$117.00 and gave the stock a hold rating in a report on Thursday, May 30th. UBS Group set a C$123.00 price objective on shares of National Bank of Canada and gave the stock a buy rating in a research report on Tuesday, July 2nd. Finally, BMO Capital Markets cut their price target on National Bank of Canada from C$121.00 to C$115.00 and set an outperform rating on the stock in a report on Tuesday, June 18th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, National Bank of Canada has an average rating of Hold and an average target price of C$114.54.

National Bank of Canada Stock Performance

TSE NA opened at C$116.38 on Monday. The firm’s fifty day moving average price is C$111.73 and its two-hundred day moving average price is C$110.92. The stock has a market cap of C$39.55 billion, a PE ratio of 12.25, a PEG ratio of 17.04 and a beta of 1.12. National Bank of Canada has a fifty-two week low of C$84.27 and a fifty-two week high of C$118.77.

National Bank of Canada (TSE:NA) last released its quarterly earnings data on Wednesday, May 29th. The financial services provider reported C$2.54 earnings per share (EPS) for the quarter, beating the consensus estimate of C$2.43 by C$0.11. 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$2.84 billion during the quarter, compared to the consensus estimate of C$2.89 billion. As a group, sell-side analysts predict that National Bank of Canada will post 9.8686007 earnings per share for the current fiscal year.

National Bank of Canada Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Monday, June 24th were given a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date was Monday, June 24th. This is a positive change from National Bank of Canada’s previous quarterly dividend of $1.06. National Bank of Canada’s dividend payout ratio (DPR) is currently 44.63%.

Insider Activity at National Bank of Canada

In other news, Senior Officer Lucie Blanchet sold 8,800 shares of the firm’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of C$107.59, for a total value of C$946,792.00. In other news, Director Yvon Charest bought 324 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were acquired at an average price of C$116.20 per share, with a total value of C$37,648.80. Also, Senior Officer Lucie Blanchet sold 8,800 shares of the stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of C$107.59, for a total transaction of C$946,792.00. 0.20% of the stock is currently owned by corporate insiders.

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.