National Bank of Canada (TSE:NA) Rating Increased to Outperform at Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce upgraded shares of National Bank of Canada (TSE:NA) from a neutral rating to an outperform rating in a report issued on Friday morning,BayStreet.CA reports. Canadian Imperial Bank of Commerce currently has C$189.00 price objective on the financial services provider’s stock, up from their prior price objective of C$179.00.

Several other brokerages also recently weighed in on NA. Canaccord Genuity Group upped their target price on shares of National Bank of Canada from C$170.00 to C$180.00 and gave the stock a “hold” rating in a research note on Thursday. Desjardins upped their price objective on National Bank of Canada from C$180.00 to C$182.00 and gave the stock a “buy” rating in a research report on Monday, February 9th. Scotiabank lifted their target price on National Bank of Canada from C$184.00 to C$188.00 in a report on Friday, January 9th. Jefferies Financial Group boosted their target price on National Bank of Canada from C$156.00 to C$165.00 in a research note on Wednesday. Finally, Royal Bank Of Canada upped their price target on National Bank of Canada from C$149.00 to C$163.00 in a report on Thursday, December 4th. Four research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, National Bank of Canada has a consensus rating of “Hold” and an average price target of C$168.92.

National Bank of Canada Trading Up 1.5%

NA stock opened at C$174.78 on Friday. The business’s fifty day moving average price is C$171.03 and its 200 day moving average price is C$159.36. National Bank of Canada has a 12-month low of C$106.67 and a 12-month high of C$177.54. The company has a market capitalization of C$68.22 billion, a PE ratio of 17.36, a P/E/G ratio of 7.14 and a beta of 1.05.

National Bank of Canada (TSE:NA) last released its earnings results on Wednesday, December 3rd. The financial services provider reported C$2.82 earnings per share for the quarter. The company had revenue of C$3.70 billion during the quarter. National Bank of Canada had a return on equity of 15.43% and a net margin of 19.69%. Research analysts predict that National Bank of Canada will post 10.8360791 EPS for the current fiscal year.

National Bank of Canada Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, February 1st. Stockholders of record on Sunday, February 1st were given a dividend of $1.24 per share. The ex-dividend date of this dividend was Monday, December 29th. This represents a $4.96 annualized dividend and a dividend yield of 2.8%. This is an increase from National Bank of Canada’s previous quarterly dividend of $1.18. National Bank of Canada’s payout ratio is currently 46.08%.

National Bank of Canada Company Profile

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.