National Bank of Canada (TSE:NA) Cut to Hold at Jefferies Financial Group

Jefferies Financial Group downgraded shares of National Bank of Canada (TSE:NA) from a buy rating to a hold rating in a research report report published on Monday morning,BayStreet.CA reports. They currently have C$126.00 price target on the financial services provider’s stock, down from their previous price target of C$147.00.

A number of other equities analysts also recently commented on the stock. Cibc World Mkts downgraded shares of National Bank of Canada from a “hold” rating to a “strong sell” rating in a report on Friday, April 4th. CIBC lowered shares of National Bank of Canada from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from C$127.00 to C$115.00 in a research note on Friday, April 4th. Desjardins dropped their price target on National Bank of Canada from C$140.00 to C$136.00 and set a “hold” rating on the stock in a research report on Thursday, February 27th. UBS Group cut their price target on National Bank of Canada from C$145.00 to C$140.00 in a report on Friday, February 28th. Finally, Cormark dropped their target price on National Bank of Canada from C$139.00 to C$137.00 in a research report on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, National Bank of Canada presently has an average rating of “Hold” and an average target price of C$133.10.

National Bank of Canada Stock Up 0.6 %

Shares of National Bank of Canada stock opened at C$117.56 on Monday. The firm has a market cap of C$45.83 billion, a P/E ratio of 10.43, a P/E/G ratio of 7.14 and a beta of 1.12. The business has a 50-day moving average price of C$117.73 and a 200 day moving average price of C$127.02. National Bank of Canada has a fifty-two week low of C$105.43 and a fifty-two week high of C$141.15.

National Bank of Canada Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Monday, March 31st will be issued a dividend of $1.14 per share. This represents a $4.56 annualized dividend and a yield of 3.88%. National Bank of Canada’s payout ratio is 39.03%.

Insider Buying and Selling at National Bank of Canada

In other National Bank of Canada news, Director Yvon Charest acquired 334 shares of National Bank of Canada stock in a transaction dated Wednesday, February 19th. The stock was bought at an average price of C$125.90 per share, for a total transaction of C$42,050.60. Also, Director Lynn Loewen acquired 1,000 shares of the stock in a transaction dated Monday, March 17th. The stock was acquired at an average cost of C$117.93 per share, for a total transaction of C$117,930.00. In the last ninety days, insiders bought 13,673 shares of company stock valued at $1,629,603. 0.21% of the stock is owned by corporate insiders.

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.