Cibc World Mkts Downgrades National Bank of Canada (TSE:NA) to Hold

National Bank of Canada (TSE:NA) was downgraded by investment analysts at Cibc World Mkts from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Several other equities analysts also recently weighed in on the company. BMO Capital Markets boosted their price target on National Bank of Canada from C$125.00 to C$143.00 in a report on Monday, November 18th. Canaccord Genuity Group lifted their price objective on National Bank of Canada from C$135.00 to C$142.00 in a research report on Thursday, December 5th. TD Securities reduced their target price on shares of National Bank of Canada from C$140.00 to C$138.00 in a report on Thursday, December 5th. Cormark raised shares of National Bank of Canada from a “hold” rating to a “moderate buy” rating in a report on Wednesday, January 15th. Finally, Barclays cut shares of National Bank of Canada from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 21st. One analyst has rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of C$138.20.

National Bank of Canada Price Performance

Shares of National Bank of Canada stock opened at C$123.48 on Tuesday. National Bank of Canada has a 1-year low of C$102.90 and a 1-year high of C$141.15. The company’s fifty day simple moving average is C$129.93 and its 200-day simple moving average is C$128.46. The stock has a market capitalization of C$48.14 billion, a PE ratio of 10.95, a P/E/G ratio of 7.14 and a beta of 1.12.

Insider Activity

In other National Bank of Canada news, Director Yvon Charest bought 334 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was purchased at an average cost of C$125.90 per share, with a total value of C$42,050.60. Also, insider Marie-Chantal Gingras sold 600 shares of the company’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of C$132.79, for a total transaction of C$79,674.00. Company 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.