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

National Bank of Canada (TSE:NA) had its price target raised by Scotiabank from C$184.00 to C$188.00 in a research report sent to investors on Friday,BayStreet.CA reports.

Several other equities research analysts have also recently issued reports on NA. Barclays boosted their target price on shares of National Bank of Canada from C$147.00 to C$158.00 and gave the stock an “equal weight” rating in a research note on Monday, November 24th. Jefferies Financial Group decreased their price target on National Bank of Canada from C$153.00 to C$152.00 and set a “hold” rating for the company in a report on Tuesday, November 25th. Canaccord Genuity Group increased their price objective on National Bank of Canada from C$160.00 to C$166.00 in a report on Thursday, December 4th. CIBC boosted their target price on National Bank of Canada from C$174.00 to C$179.00 and gave the stock a “neutral” rating in a research note on Thursday, December 11th. Finally, BMO Capital Markets upped their price target on National Bank of Canada from C$172.00 to C$177.00 in a report on Wednesday, December 17th. Three research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of C$166.17.

National Bank of Canada Stock Up 1.1%

Shares of NA stock opened at C$173.89 on Friday. The firm has a 50 day moving average of C$168.75 and a two-hundred day moving average of C$154.72. The stock has a market capitalization of C$67.87 billion, a PE ratio of 17.27, a P/E/G ratio of 7.14 and a beta of 1.15. National Bank of Canada has a 52 week low of C$106.67 and a 52 week high of C$177.54.

National Bank of Canada (TSE:NA) last released its earnings results on Wednesday, December 3rd. The financial services provider reported C$2.82 earnings per share for the quarter. National Bank of Canada had a net margin of 19.69% and a return on equity of 15.43%. The firm had revenue of C$3.70 billion for the quarter. Analysts expect that National Bank of Canada will post 10.8360791 EPS for the current fiscal year.

National Bank of Canada Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, February 1st. Investors of record on Sunday, February 1st will be paid a dividend of $1.24 per share. The ex-dividend date is Monday, December 29th. This represents a $4.96 dividend on an annualized basis and a yield of 2.9%. This is a boost from National Bank of Canada’s previous quarterly dividend of $1.18. National Bank of Canada’s dividend payout ratio (DPR) is 46.08%.

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.