National Bank of Canada (TSE:NA) Downgraded by Canadian Imperial Bank of Commerce to “Hold”

Canadian Imperial Bank of Commerce downgraded shares of National Bank of Canada (TSE:NA) from a strong-buy rating to a hold rating in a research note released on Wednesday morning,Zacks.com reports.

A number of other equities research analysts also recently weighed in on NA. Desjardins lifted their target price on National Bank of Canada from C$200.00 to C$215.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. Jefferies Financial Group upped their price target on shares of National Bank of Canada from C$165.00 to C$172.00 in a research note on Thursday, February 26th. National Bank Financial raised their price target on shares of National Bank of Canada from C$183.00 to C$196.00 in a research report on Thursday, March 5th. Canaccord Genuity Group cut their price objective on shares of National Bank of Canada from C$191.00 to C$190.00 and set a “hold” rating for the company in a report on Monday, March 9th. Finally, TD increased their target price on shares of National Bank of Canada from C$182.00 to C$202.00 and gave the stock a “hold” rating in a research report on Tuesday, May 5th. Three investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of C$195.38.

National Bank of Canada Stock Up 0.5%

Shares of TSE:NA opened at C$205.76 on Wednesday. National Bank of Canada has a 12-month low of C$126.13 and a 12-month high of C$209.89. The business has a 50 day moving average of C$192.41 and a 200-day moving average of C$177.67. The stock has a market cap of C$79.65 billion, a PE ratio of 19.84, a P/E/G ratio of 7.14 and a beta of 1.30.

National Bank of Canada (TSE:NA) last announced its earnings results on Wednesday, February 25th. The financial services provider reported C$3.25 earnings per share for the quarter. The company had revenue of C$3.89 billion for the quarter. National Bank of Canada had a return on equity of 12.83% and a net margin of 15.85%. Equities research analysts expect that National Bank of Canada will post 10.8360791 earnings per share for the current year.

National Bank of Canada Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 1st. Stockholders of record on Friday, May 1st were paid a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Monday, March 30th. National Bank of Canada’s dividend payout ratio (DPR) is presently 45.71%.

About National Bank of Canada

National Bank of Canada is the sixth-largest Canadian bank. The bank offers integrated financial services, primarily in the province of Quebec as well as the city of Toronto. Operational segments include personal and commercial banking, wealth management, and a financial markets group.