National Bank of Canada (TSE:NA) Rating Lowered to Hold at Canadian Imperial Bank of Commerce

National Bank of Canada (TSE:NA) was downgraded by Canadian Imperial Bank of Commerce from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

A number of other equities research analysts have also recently issued reports on the company. Jefferies Financial Group upped their price objective on National Bank of Canada from C$165.00 to C$172.00 in a research note on Thursday, February 26th. Raymond James Financial upped their price objective on National Bank of Canada from C$200.00 to C$206.50 and gave the stock a “market perform” rating in a research note on Wednesday. Barclays upped their price objective on National Bank of Canada from C$177.00 to C$183.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 26th. TD upped their price objective on National Bank of Canada from C$182.00 to C$202.00 and gave the stock a “hold” rating in a research note on Tuesday, May 5th. Finally, TD Securities upped their price objective on National Bank of Canada from C$175.00 to C$182.00 in a research note on Thursday, February 26th. Three investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of C$195.38.

National Bank of Canada Stock Performance

TSE NA opened at C$205.76 on Wednesday. The stock has a market capitalization of C$79.65 billion, a price-to-earnings ratio of 19.84, a PEG ratio of 7.14 and a beta of 1.30. The stock’s 50 day moving average price is C$192.41 and its two-hundred day moving average price is C$177.67. National Bank of Canada has a 52 week low of C$126.13 and a 52 week high of C$209.89.

National Bank of Canada (TSE:NA) last released its earnings results on Wednesday, February 25th. The financial services provider reported C$3.25 EPS for the quarter. The firm had revenue of C$3.89 billion for the quarter. National Bank of Canada had a return on equity of 12.83% and a net margin of 15.85%. On average, equities research analysts forecast that National Bank of Canada will post 10.8360791 EPS for the current year.

About National Bank of Canada

National Bank of Canada is the sixth-largest Canadian bank. The bank offers integrated financial services, primarily in the province of Quebec as well as the city of Toronto. Operational segments include personal and commercial banking, wealth management, and a financial markets group.