Canaccord Genuity Group Issues Positive Forecast for National Bank of Canada (TSE:NA) Stock Price

National Bank of Canada (TSE:NA) had its price target boosted by Canaccord Genuity Group from C$205.00 to C$224.00 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. The firm currently has a “hold” rating on the financial services provider’s stock. Canaccord Genuity Group’s price objective would indicate a potential downside of 1.96% from the company’s current price.

Several other brokerages have also recently issued reports on NA. Canadian Imperial Bank of Commerce raised their target price on shares of National Bank of Canada from C$209.00 to C$221.00 and gave the stock a “neutral” rating in a report on Thursday, May 28th. TD upped their price target on shares of National Bank of Canada from C$182.00 to C$202.00 and gave the company a “hold” rating in a report on Tuesday, May 5th. Raymond James Financial cut their price target on National Bank of Canada from C$206.50 to C$203.00 and set a “market perform” rating on the stock in a research report on Thursday, May 28th. Desjardins boosted their price objective on National Bank of Canada from C$215.00 to C$217.00 and gave the company a “buy” rating in a report on Thursday, May 28th. Finally, Jefferies Financial Group upped their target price on National Bank of Canada from C$172.00 to C$188.00 in a research note on Wednesday, May 20th. Three investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, National Bank of Canada currently has an average rating of “Hold” and a consensus target price of C$201.08.

National Bank of Canada Trading Up 0.8%

Shares of NA stock traded up C$1.73 during mid-day trading on Tuesday, reaching C$228.48. The stock had a trading volume of 584,563 shares, compared to its average volume of 1,478,090. National Bank of Canada has a 1-year low of C$139.29 and a 1-year high of C$228.57. The business’s fifty day moving average is C$210.17 and its 200-day moving average is C$189.90. The firm has a market cap of C$88.00 billion, a price-to-earnings ratio of 20.22, a PEG ratio of 7.14 and a beta of 1.35.

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