National Bank of Canada (TSE:NA) Hits New 52-Week High on Analyst Upgrade

Shares of National Bank of Canada (TSE:NA) reached a new 52-week high during mid-day trading on Monday after CIBC raised their price target on the stock from C$135.00 to C$141.00. The company traded as high as C$138.54 and last traded at C$138.54, with a volume of 1800 shares changing hands. The stock had previously closed at C$137.81.

Several other equities research analysts have also recently issued reports on the company. Scotiabank lifted their target price on National Bank of Canada from C$129.00 to C$154.00 in a research report on Monday. TD Securities boosted their price objective on shares of National Bank of Canada from C$129.00 to C$140.00 in a report on Friday, November 15th. 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 note on Monday, November 18th. Barclays lowered shares of National Bank of Canada from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 21st. Finally, Royal Bank of Canada lifted their target price on shares of National Bank of Canada from C$113.00 to C$116.00 in a report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of C$132.40.

Insider Activity at National Bank of Canada

In other National Bank of Canada news, Director Yvon Charest bought 285 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was acquired at an average price of C$133.71 per share, for a total transaction of C$38,107.35. Insiders own 0.21% of the company’s stock.

National Bank of Canada Price Performance

The stock has a market cap of C$46.78 billion, a PE ratio of 13.38, a PEG ratio of 7.14 and a beta of 1.12. The company has a 50-day simple moving average of C$131.10 and a 200-day simple moving average of C$120.55.

National Bank of Canada (TSE:NA) last released its quarterly earnings data on Wednesday, August 28th. The financial services provider reported C$2.68 earnings per share for the quarter, beating the consensus estimate of C$2.50 by C$0.18. The firm had revenue of C$2.98 billion during the quarter, compared to the consensus estimate of C$2.95 billion. National Bank of Canada had a return on equity of 15.18% and a net margin of 34.50%. On average, equities analysts expect that National Bank of Canada will post 10.8360791 EPS for the current fiscal year.

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.