National Bank of Canada (TSE:NA) Rating Increased to Moderate Buy at Cormark

Cormark upgraded shares of National Bank of Canada (TSE:NA) from a hold rating to a moderate buy rating in a report published on Wednesday,Zacks.com reports.

A number of other research firms also recently weighed in on NA. TD Securities cut their price target on shares of National Bank of Canada from C$140.00 to C$138.00 in a report on Thursday, December 5th. BMO Capital Markets increased their target price on shares of National Bank of Canada from C$125.00 to C$143.00 in a research report on Monday, November 18th. Royal Bank of Canada boosted their price target on National Bank of Canada from C$134.00 to C$145.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 8th. Canaccord Genuity Group increased their price objective on National Bank of Canada from C$135.00 to C$142.00 in a report on Thursday, December 5th. Finally, Cibc World Mkts upgraded National Bank of Canada from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 9th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of C$137.20.

National Bank of Canada Stock Performance

TSE:NA opened at C$131.37 on Wednesday. The company has a market capitalization of C$44.72 billion, a P/E ratio of 12.79, a P/E/G ratio of 7.14 and a beta of 1.12. The stock’s 50 day moving average price is C$133.96 and its 200 day moving average price is C$125.47. National Bank of Canada has a 52 week low of C$98.04 and a 52 week high of C$141.15.

National Bank of Canada Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, February 1st. Investors of record on Monday, December 30th will be paid a dividend of $1.14 per share. This is a boost from National Bank of Canada’s previous quarterly dividend of $1.10. This represents a $4.56 annualized dividend and a yield of 3.47%. The ex-dividend date is Monday, December 30th. National Bank of Canada’s dividend payout ratio is presently 42.84%.

Insider Buying and Selling at National Bank of Canada

In other news, insider Marie-Chantal Gingras sold 600 shares of National Bank of Canada stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of C$132.79, for a total transaction of C$79,674.00. Also, Senior Officer Brigitte Hébert sold 400 shares of the stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of C$132.46, for a total transaction of C$52,984.00. 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.