Bloomberg reports that the twelve brokerage firms covering National Bank of Canada (TSE:NA) stock have given the stock a collective recommendation of a Hold as the average rating for the stock. Two equity research specialists advise considering buying the stock, while the other three say the stock should be kept OTC for now. The brokerage firms, which updated their stock coverage over the past year, have set an average price target for the stock of CA$104,750.00 for the next twelve months.
Various analysts have offered their views on the stock over the past few weeks. Scotiabank’s target price for National Bank of Canada stock has increased to $112.00 from $107.00, according to a report published Aug. 18. The previous price target was set at CAD$107.00. The Canadian Imperial Bank of Commerce (CIBC) announced on Sept. 7 in a research note published that day that it would lower its price target on National Bank of Canada shares from C$104.00 to C$100.00. Canaccord Genuity Group announced in a research note published on Thursday, August 25 that the target price they have set for shares of National Bank of Canada has fallen to $100.00 from $101.00. The previous target price for these shares was $101.00. In a research report published on Friday, August 26, Cormark increased its price target on National Bank of Canada shares. The previous price target for the stock was $114.00 but the new price target was $115.00. The Royal Bank of Canada raised its target price on National Bank of Canada shares to CAD109.00 from CAD103.00 in a research report published on Monday, May 30. They also upgraded the National Bank of Canada’s rating from sector performs to buy.
On Friday, the TSE North America opened trading at CAD$85.73. The lowest price for the National Bank of Canada over the past year was CA$82.38 and the highest price over the past year was CA$106.10. The company’s market cap is CA$28.85 billion and its P/E is 8.80. The company’s fifty-day simple moving average price is $90.24 and its two-hundred-day simple moving average price is $91.63.
In addition, the company recently announced a quarterly dividend, which will be paid to shareholders on November 1 of this year. On September 26, “registered” shareholders will receive a dividend payment of $0.92 per share. This payment is made to “registered” shareholders. That equates to a dividend payment of $3.68 per year and a 4.29% return for each year the investment is held. The day on which the dividend is no longer payable is the following Friday, September 23rd. The National Bank of Canada (also known as DPR) dividend payout ratio currently stands at 34.60 percent.
On Friday, August 26, National Bank of Canada director Laurent Ferreira bought 2,000 shares of the company. The transaction took place on the same day. This information comes from a recently published article about the Bank of Canada in Canada. The stock will cost $179,400.00 to purchase, resulting in an average price of $89.70 per share. As a result of the acquisition, the director now directly owns 73,400 shares of the company. The aggregate value of these shares is approximately CA$6,583,980.
Customers come from all over the world to conduct their financial transactions with the National Bank of Canada. These customers fall into four categories: retail, corporate, corporate, or institutional. In addition, Canada is home to some of these customers’ companies. The company thus has four different business areas that work separately from each other. US and International Personal and Commercial Banking, Wealth Management, Financial Markets, Specialty Finance.