National Bank of Canada (TSE:NA) Lowered to “Underweight” at Barclays

Barclays downgraded shares of National Bank of Canada (TSE:NA) from an equal weight rating to an underweight rating in a research note released on Tuesday, BayStreet.CA reports. Barclays currently has C$64.00 price target on the financial services provider’s stock.

Other research analysts have also recently issued reports about the stock. CSFB decreased their target price on shares of National Bank of Canada from C$65.00 to C$64.00 in a report on Friday, May 31st. Canaccord Genuity decreased their target price on shares of National Bank of Canada from C$67.00 to C$65.00 in a report on Wednesday, May 15th. Desjardins lifted their target price on shares of National Bank of Canada from C$62.00 to C$64.00 in a report on Tuesday, May 14th. Finally, TD Securities decreased their target price on shares of National Bank of Canada from C$67.00 to C$66.00 and set a hold rating for the company in a report on Thursday, February 28th.

Shares of National Bank of Canada stock opened at C$61.73 on Tuesday. The stock has a market capitalization of $20.56 billion and a price-to-earnings ratio of 10.20. National Bank of Canada has a 52-week low of C$54.37 and a 52-week high of C$65.95.

National Bank of Canada (TSE:NA) last issued its earnings results on Thursday, May 30th. The financial services provider reported C$1.51 earnings per share (EPS) for the quarter, missing the consensus estimate of C$1.52 by C($0.01). The business had revenue of C$1.77 billion for the quarter, compared to analyst estimates of C$1.79 billion. As a group, sell-side analysts predict that National Bank of Canada will post 6.7389011 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Tuesday, June 25th will be issued a $0.68 dividend. The ex-dividend date is Monday, June 24th. This is a boost from National Bank of Canada’s previous quarterly dividend of $0.65. This represents a $2.72 annualized dividend and a yield of 4.41%. National Bank of Canada’s payout ratio is 41.98%.

National Bank of Canada Company Profile

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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