National Bank of Canada (NA) Downgraded by Barclays

Barclays downgraded shares of National Bank of Canada (TSE:NA) from an overweight rating to an equal weight rating in a report published on Tuesday, December 19th.

A number of other analysts have also commented on NA. Scotiabank upped their target price on National Bank of Canada from C$60.00 to C$61.00 and gave the company an outperform rating in a report on Monday, August 21st. TD Securities upped their target price on National Bank of Canada from C$64.00 to C$66.00 and gave the company a hold rating in a report on Monday, December 4th. BMO Capital Markets reiterated a market perform rating and issued a C$66.00 target price on shares of National Bank of Canada in a report on Tuesday, December 12th. Eight Capital downgraded National Bank of Canada from a buy rating to a neutral rating and upped their target price for the company from C$66.00 to C$67.00 in a report on Monday, December 4th. Finally, Canaccord Genuity upped their target price on National Bank of Canada from C$66.00 to C$68.00 in a report on Monday, December 4th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. National Bank of Canada presently has an average rating of Hold and an average price target of C$65.18.

Shares of National Bank of Canada (TSE NA) traded up C$0.05 during midday trading on Tuesday, reaching C$63.85. 760,000 shares of the company’s stock were exchanged, compared to its average volume of 973,963. National Bank of Canada has a 52 week low of C$51.41 and a 52 week high of C$64.39. The firm has a market cap of $21,720.00, a P/E ratio of 11.87 and a beta of 0.89.

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Wednesday, December 27th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 3.76%. The ex-dividend date of this dividend is Friday, December 22nd. This is an increase from National Bank of Canada’s previous quarterly dividend of $0.58. National Bank of Canada’s dividend payout ratio (DPR) is 42.38%.

In other news, insider Ricardo Pascoe sold 48,340 shares of the stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of C$63.25, for a total value of C$3,057,505.00. Also, Director Louis Vachon sold 73,232 shares of the stock in a transaction that occurred on Tuesday, December 5th. The shares were sold at an average price of C$63.43, for a total value of C$4,645,105.76. In the last quarter, insiders have sold 239,772 shares of company stock worth $15,288,811.

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About National Bank of Canada

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