National Bank of Canada (TSE:NA) Upgraded at Scotiabank

Scotiabank upgraded shares of National Bank of Canada (TSE:NA) to a strong-buy rating in a report released on Thursday morning,Zacks.com reports.

NA has been the subject of several other reports. Cibc World Mkts downgraded National Bank of Canada from a “hold” rating to a “strong sell” rating in a report on Friday, April 4th. BMO Capital Markets lowered their price target on National Bank of Canada from C$143.00 to C$135.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. TD Securities lowered 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, March 5th. Desjardins lowered 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. Finally, UBS Group lowered their price target on National Bank of Canada from C$145.00 to C$140.00 in a report on Friday, February 28th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of C$133.10.

National Bank of Canada Stock Up 0.8%

NA stock opened at C$128.60 on Thursday. The company has a market cap of C$50.14 billion, a price-to-earnings ratio of 11.41, a PEG ratio of 7.14 and a beta of 1.12. The business has a fifty day simple moving average of C$118.49 and a 200-day simple moving average of C$126.16. National Bank of Canada has a 52 week low of C$105.43 and a 52 week high of C$141.15.

National Bank of Canada Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Monday, March 31st were given a dividend of $1.14 per share. This represents a $4.56 annualized dividend and a dividend yield of 3.55%. National Bank of Canada’s payout ratio is 39.03%.

Insider Transactions at National Bank of Canada

In other National Bank of Canada news, Director Robert Paré bought 4,200 shares of the business’s stock in a transaction on Thursday, February 27th. The shares were purchased at an average price of C$120.34 per share, with a total value of C$505,428.00. Also, Director Yvon Charest bought 334 shares of the business’s stock in a transaction on Wednesday, February 19th. The stock was acquired at an average cost of C$125.90 per share, for a total transaction of C$42,050.60. Over the last 90 days, insiders have purchased 13,673 shares of company stock valued at $1,629,603. Insiders own 0.21% of the company’s stock.

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.