Cormark Upgrades National Bank of Canada (TSE:NA) to Moderate Buy

National Bank of Canada (TSE:NA) was upgraded by analysts at Cormark from a “hold” rating to a “moderate buy” rating in a research note issued on Wednesday,Zacks.com reports.

Several other equities analysts also recently weighed in on the stock. CIBC raised their target price on shares of National Bank of Canada from C$135.00 to C$141.00 in a report on Tuesday, November 26th. TD Securities cut their price target on National Bank of Canada from C$140.00 to C$138.00 in a report on Thursday, December 5th. Scotiabank raised their price target on shares of National Bank of Canada from C$129.00 to C$154.00 in a research note on Monday, November 25th. Royal Bank of Canada raised their price objective on National Bank of Canada from C$134.00 to C$145.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 8th. Finally, Canaccord Genuity Group upped their target price on National Bank of Canada from C$135.00 to C$142.00 in a research note on Thursday, December 5th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, National Bank of Canada has a consensus rating of “Hold” and a consensus target price of C$137.20.

National Bank of Canada Price Performance

Shares of TSE:NA opened at C$131.37 on Wednesday. The firm has a market capitalization of C$44.72 billion, a price-to-earnings ratio of 12.79, a price-to-earnings-growth ratio of 7.14 and a beta of 1.12. The business’s 50 day simple moving average is C$133.96 and its 200-day simple moving average is C$125.47. National Bank of Canada has a 12 month low of C$98.04 and a 12 month high of C$141.15.

Insider Activity

In related news, Director Yvon Charest bought 285 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was bought at an average price of C$133.71 per share, with a total value of C$38,107.35. Also, Senior Officer Brigitte Hébert sold 400 shares of the firm’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of C$132.46, for a total value of C$52,984.00. Corporate insiders own 0.21% of the company’s stock.

About National Bank of Canada

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.