National Bank of Canada (TSE:NA) Price Target Increased to C$116.00 by Analysts at Desjardins

National Bank of Canada (TSE:NA) had its price objective raised by equities researchers at Desjardins from C$109.00 to C$116.00 in a report released on Monday, BayStreet.CA reports. The brokerage presently has a “hold” rating on the financial services provider’s stock. Desjardins’ target price would indicate a potential upside of 1.86% from the company’s previous close.

Several other equities research analysts have also recently issued reports on NA. Veritas Investment Research reaffirmed a “reduce” rating on shares of National Bank of Canada in a report on Thursday, February 29th. Scotiabank boosted their price target on National Bank of Canada from C$107.00 to C$109.00 and gave the company a “sector perform” rating in a report on Thursday, February 29th. CIBC lowered their price target on National Bank of Canada from C$110.00 to C$109.00 and set an “outperform” rating for the company in a report on Friday, March 8th. Canaccord Genuity Group boosted their price objective on shares of National Bank of Canada from C$107.00 to C$108.00 and gave the stock a “hold” rating in a research note on Thursday, February 29th. Finally, Jefferies Financial Group boosted their price objective on shares of National Bank of Canada from C$109.00 to C$113.00 and gave the stock a “hold” rating in a research note on Thursday, February 29th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, National Bank of Canada currently has an average rating of “Hold” and an average target price of C$108.58.

National Bank of Canada Trading Up 0.3 %

NA traded up C$0.33 during trading on Monday, hitting C$113.88. 184,716 shares of the company’s stock traded hands, compared to its average volume of 1,750,050. The company’s 50 day simple moving average is C$111.08 and its two-hundred day simple moving average is C$101.51. National Bank of Canada has a 12-month low of C$84.27 and a 12-month high of C$115.14. The stock has a market capitalization of C$38.70 billion, a price-to-earnings ratio of 11.99, a PEG ratio of 17.04 and a beta of 1.12.

National Bank of Canada (TSE:NA) last released its quarterly earnings results on Wednesday, February 28th. The financial services provider reported C$2.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$2.38 by C$0.21. The firm had revenue of C$2.71 billion for the quarter, compared to the consensus estimate of C$2.72 billion. National Bank of Canada had a return on equity of 14.73% and a net margin of 34.22%. On average, equities analysts expect that National Bank of Canada will post 9.848222 EPS for the current year.

Insider Activity

In other news, Director Yvon Charest purchased 331 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was acquired at an average price of C$103.19 per share, for a total transaction of C$34,155.89. Corporate insiders own 0.20% of the company’s stock.

About National Bank of Canada

National Bank of Canada provides financial services to individuals, businesses, institutional clients, and governments in Canada and internationally. It operates through four segments: Personal and Commercial, Wealth Management, Financial Markets, and U.S. Specialty Finance and International. The Personal and Commercial segment offers personal banking services, including transaction solutions, mortgage loans and home equity lines of credit, consumer loans, payment solutions, and savings and investment solutions; various insurance products; and commercial banking services, such as credit, and deposit, investment solutions, international trade, foreign exchange transactions, payroll, cash management, insurance, electronic transactions, and complimentary services.