Scotiabank Issues Positive Forecast for National Bank of Canada (TSE:NA) Stock Price

National Bank of Canada (TSE:NA) had its target price boosted by stock analysts at Scotiabank from C$214.00 to C$222.00 in a note issued to investors on Tuesday,BayStreet.CA reports. The brokerage currently has a “sector outperform” rating on the financial services provider’s stock. Scotiabank’s target price points to a potential upside of 3.93% from the stock’s current price.

A number of other analysts also recently weighed in on the company. Desjardins boosted their target price on National Bank of Canada from C$215.00 to C$217.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. TD lifted their price target on shares of 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. National Bank Financial boosted their price objective on shares of National Bank of Canada from C$183.00 to C$196.00 in a report on Thursday, March 5th. BMO Capital Markets upped their price objective on shares of National Bank of Canada from C$177.00 to C$195.00 and gave the company an “outperform” rating in a research note on Thursday, February 26th. Finally, Royal Bank Of Canada reduced their target price on shares of National Bank of Canada from C$193.00 to C$180.00 and set a “sector perform” rating on the stock in a report on Wednesday, March 25th. Three analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, National Bank of Canada has a consensus rating of “Hold” and a consensus target price of C$199.50.

National Bank of Canada Price Performance

Shares of TSE:NA traded up C$2.54 on Tuesday, hitting C$213.61. The company’s stock had a trading volume of 359,577 shares, compared to its average volume of 1,443,904. The company has a 50-day simple moving average of C$203.01 and a 200 day simple moving average of C$184.88. National Bank of Canada has a 1 year low of C$134.24 and a 1 year high of C$214.78. The company has a market capitalization of C$82.27 billion, a PE ratio of 18.90, a PEG ratio of 7.14 and a beta of 1.40.

National Bank of Canada (TSE:NA) last released its quarterly earnings results on Wednesday, May 27th. The financial services provider reported C$3.23 earnings per share for the quarter. National Bank of Canada had a return on equity of 13.77% and a net margin of 16.87%.The firm had revenue of C$3.91 billion for the quarter. On average, equities research analysts expect that National Bank of Canada will post 10.8360791 earnings per share for the current fiscal year.

National Bank of Canada Company Profile

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.