National Bank of Canada (TSE:NA) Stock Rating Lowered by Cibc World Mkts

Cibc World Mkts downgraded shares of National Bank of Canada (TSE:NA) from a strong-buy rating to a hold rating in a research report sent to investors on Tuesday,Zacks.com reports.

Other equities analysts have also recently issued reports about the stock. BMO Capital Markets lifted their price objective on shares of National Bank of Canada from C$125.00 to C$143.00 in a research report on Monday, November 18th. UBS Group decreased their target price on National Bank of Canada from C$150.00 to C$145.00 in a research report on Friday, February 14th. Barclays downgraded National Bank of Canada from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 21st. TD Securities decreased their target price on National Bank of Canada from C$140.00 to C$138.00 in a research report on Thursday, December 5th. Finally, CIBC lowered their price target on shares of National Bank of Canada from C$141.00 to C$135.00 in a research report on Tuesday. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, National Bank of Canada has a consensus rating of “Hold” and a consensus target price of C$138.20.

National Bank of Canada Stock Performance

Shares of TSE:NA opened at C$123.48 on Tuesday. National Bank of Canada has a 52-week low of C$102.90 and a 52-week high of C$141.15. The company has a market capitalization of C$48.14 billion, a P/E ratio of 10.95, a price-to-earnings-growth ratio of 7.14 and a beta of 1.12. The company has a 50-day simple moving average of C$129.93 and a 200 day simple moving average of C$128.46.

National Bank of Canada Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Saturday, February 1st. Stockholders of record on Monday, December 30th were issued a dividend of $1.14 per share. This represents a $4.56 dividend on an annualized basis and a dividend yield of 3.69%. The ex-dividend date was Monday, December 30th. This is an increase from National Bank of Canada’s previous quarterly dividend of $1.10. National Bank of Canada’s dividend payout ratio is 39.03%.

Insider Transactions at National Bank of Canada

In related news, Senior Officer Brigitte Hébert sold 400 shares of the firm’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of C$132.46, for a total value of C$52,984.00. Also, insider Marie-Chantal Gingras sold 600 shares of the firm’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of C$132.79, for a total value of C$79,674.00. 0.21% of the stock is currently owned by 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.