Insider Buying: National Bank of Canada (TSE:NA) Director Acquires C$38,103.00 in Stock

National Bank of Canada (TSE:NA) Director Yvon Charest acquired 325 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was purchased at an average price of C$117.24 per share, with a total value of C$38,103.00.

Yvon Charest also recently made the following trade(s):

• On Tuesday, May 21st, Yvon Charest bought 324 shares of National Bank of Canada stock. The stock was acquired at an average cost of C$116.20 per share, with a total value of C$37,648.80.

National Bank of Canada Stock Up 0.6 %

TSE:NA opened at C$118.46 on Thursday. The firm has a market capitalization of C$41.34 billion, a price-to-earnings ratio of 12.21, a price-to-earnings-growth ratio of 17.04 and a beta of 1.13. National Bank of Canada has a twelve month low of C$84.27 and a twelve month high of C$118.83. The stock’s 50 day moving average price is C$111.94 and its two-hundred day moving average price is C$111.39.

National Bank of Canada (TSE:NA) last issued its earnings results on Wednesday, May 29th. The financial services provider reported C$2.54 earnings per share for the quarter, topping analysts’ consensus estimates of C$2.43 by C$0.11. National Bank of Canada had a net margin of 34.10% and a return on equity of 14.72%. The business had revenue of C$2.84 billion for the quarter, compared to the consensus estimate of C$2.89 billion. As a group, analysts anticipate that National Bank of Canada will post 10.5085049 earnings per share for the current year.

National Bank of Canada Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Monday, June 24th were issued a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 3.71%. This is a boost from National Bank of Canada’s previous quarterly dividend of $1.06. The ex-dividend date of this dividend was Monday, June 24th. National Bank of Canada’s dividend payout ratio is presently 45.36%.

Analysts Set New Price Targets

NA has been the topic of several recent analyst reports. CIBC cut their price objective on National Bank of Canada from C$124.00 to C$122.00 and set an “outperform” rating on the stock in a report on Tuesday. UBS Group set a C$123.00 price target on shares of National Bank of Canada and gave the company a “buy” rating in a report on Tuesday, July 2nd. Jefferies Financial Group cut their price objective on shares of National Bank of Canada from C$121.00 to C$119.00 and set a “hold” rating on the stock in a research report on Monday, August 12th. BMO Capital Markets reduced their target price on shares of National Bank of Canada from C$121.00 to C$115.00 and set an “outperform” rating for the company in a research note on Tuesday, June 18th. Finally, Cormark lifted their price target on National Bank of Canada from C$121.00 to C$122.00 and gave the company a “market perform” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, National Bank of Canada currently has an average rating of “Hold” and an average target price of C$116.42.

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.