National Bank of Canada (NA) Hits New 52-Week Low After Analyst Downgrade
National Bank of Canada (TSE:NA) shares reached a new 52-week low during mid-day trading on Thursday after Barclays lowered their price target on the stock from C$65.00 to C$62.00. The company traded as low as C$57.58 and last traded at C$58.01, with a volume of 942661 shares changing hands. The stock had previously closed at C$60.20.
A number of other research analysts have also issued reports on NA. Desjardins raised their target price on shares of National Bank of Canada from C$64.00 to C$66.00 in a research note on Thursday, August 30th. Canaccord Genuity lowered shares of National Bank of Canada from a “buy” rating to a “hold” rating and set a C$69.00 target price on the stock. in a research note on Thursday, August 30th. TD Securities lowered their target price on shares of National Bank of Canada from C$72.00 to C$68.00 and set a “hold” rating on the stock in a research note on Thursday. Finally, Eight Capital lowered their target price on shares of National Bank of Canada from C$70.00 to C$69.00 in a research note on Thursday. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. National Bank of Canada currently has a consensus rating of “Hold” and an average target price of C$67.36.
In other National Bank of Canada news, Director Louis Vachon sold 62,800 shares of the stock in a transaction on Wednesday, September 19th. The shares were sold at an average price of C$65.01, for a total value of C$4,082,628.00. Over the last three months, insiders sold 86,200 shares of company stock valued at $5,604,116.
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About National Bank of Canada (TSE:NA)
National Bank of Canada provides various financial products and services to retail, commercial, corporate, and institutional clients in Canada and internationally. It operates through Personal and Commercial, Wealth Management, Financial Markets, and U.S. Specialty Finance and International segments.
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