National Bank of Canada (NA) Reaches New 1-Year Low at $60.89

Shares of National Bank of Canada (TSE:NA) hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as C$60.89 and last traded at C$60.91, with a volume of 1424425 shares changing hands. The stock had previously closed at C$62.53.

Several analysts have recently weighed in on NA shares. Barclays raised their target price on National Bank of Canada from C$67.00 to C$69.00 in a research note on Thursday, August 30th. Canaccord Genuity downgraded National Bank of Canada from a “buy” rating to a “hold” rating and set a C$69.00 target price for the company. in a research note on Thursday, August 30th. Finally, Desjardins raised their target price on National Bank of Canada from C$64.00 to C$66.00 in a research note on Thursday, August 30th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. National Bank of Canada currently has a consensus rating of “Hold” and an average price target of C$68.36.

National Bank of Canada (TSE:NA) last issued its earnings results on Wednesday, August 29th. The financial services provider reported C$1.53 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of C$1.49 by C$0.04. National Bank of Canada had a net margin of 30.45% and a return on equity of 18.84%. The firm had revenue of C$1.79 billion for the quarter, compared to analysts’ expectations of C$1.76 billion.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 1st. Stockholders of record on Monday, September 24th will be issued a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, September 21st. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.09%.

In related news, insider Alain Legris sold 700 shares of the business’s stock in a transaction that occurred on Thursday, August 30th. The stock was sold at an average price of C$64.71, for a total transaction of C$45,297.00. Also, Director Louis Vachon sold 12,200 shares of the business’s stock in a transaction that occurred on Monday, September 10th. The stock was sold at an average price of C$65.04, for a total value of C$793,488.00. In the last ninety days, insiders have sold 105,000 shares of company stock worth $6,826,094.

National Bank of Canada Company Profile (TSE:NA)

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

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