National Bank of Canada (TSE:NA) Earns Market Perform Rating from Cormark

Cormark restated their market perform rating on shares of National Bank of Canada (TSE:NA – Get Rating) in a research note issued to investors on Tuesday morning, BayStreet.CA reports. Cormark also issued estimates for National Bank of Canada’s Q2 2023 earnings at $2.41 EPS, FY2023 earnings at $9.76 EPS and FY2024 earnings at $10.24 EPS.

Several other research analysts also recently commented on the company. Scotiabank dropped their price target on National Bank of Canada from C$115.00 to C$111.00 in a research report on Friday, February 17th. Veritas Investment Research reaffirmed a buy rating on shares of National Bank of Canada in a research report on Monday, February 27th. Canaccord Genuity Group increased their price target on shares of National Bank of Canada from C$102.00 to C$104.50 in a report on Thursday, March 2nd. CIBC decreased their price target on shares of National Bank of Canada from C$112.00 to C$110.00 in a research report on Tuesday, May 16th. Finally, CSFB upped their price objective on shares of National Bank of Canada from C$113.00 to C$116.00 in a research report on Tuesday, May 16th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, National Bank of Canada currently has a consensus rating of Hold and a consensus price target of C$105.32.

National Bank of Canada Trading Up 0.1 %

NA opened at C$99.24 on Tuesday. The stock has a fifty day moving average price of C$98.57 and a 200 day moving average price of C$97.71. National Bank of Canada has a 1 year low of C$82.16 and a 1 year high of C$104.83. The stock has a market cap of C$33.47 billion, a price-to-earnings ratio of 10.49, a PEG ratio of 1.02 and a beta of 1.11.

National Bank of Canada (TSE:NA – Get Rating) last issued its quarterly earnings data on Wednesday, March 1st. The financial services provider reported C$2.56 earnings per share for the quarter, beating the consensus estimate of C$2.41 by C$0.15. The firm had revenue of C$2.58 billion for the quarter, compared to analyst estimates of C$2.62 billion. National Bank of Canada had a net margin of 34.98% and a return on equity of 16.00%. As a group, sell-side analysts forecast that National Bank of Canada will post 10.0705882 earnings per share for the current fiscal year.

National Bank of Canada Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 1st. Shareholders of record on Monday, March 27th were issued a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a yield of 3.91%. The ex-dividend date of this dividend was Friday, March 24th. National Bank of Canada’s dividend payout ratio is presently 41.01%.

National Bank of Canada Company Profile

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National Bank of Canada provides various financial products and services to retail, commercial, corporate, and institutional clients in Canada and internationally. It operates through four segments: Personal and Commercial, Wealth Management, Financial Markets, and U.S. Specialty Finance and International.