National Bank of Canada (TSE:NA) Stock Price Expected to Rise, Canadian Imperial Bank of Commerce Analyst Says

National Bank of Canada (TSE:NA) had its target price boosted by research analysts at Canadian Imperial Bank of Commerce from C$209.00 to C$221.00 in a report released on Thursday,BayStreet.CA reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. Canadian Imperial Bank of Commerce’s price objective indicates a potential upside of 8.50% from the company’s current price.

Other equities analysts have also recently issued research reports about the company. Barclays lifted their price target on National Bank of Canada from C$177.00 to C$183.00 and gave the stock an “equal weight” rating in a report on Thursday, February 26th. Jefferies Financial Group raised their price objective on shares of National Bank of Canada from C$172.00 to C$188.00 in a research report on Wednesday, May 20th. Royal Bank Of Canada cut their price objective on shares of National Bank of Canada from C$193.00 to C$180.00 and set a “sector perform” rating for the company in a research report on Wednesday, March 25th. Canaccord Genuity Group upped their price objective on National Bank of Canada from C$190.00 to C$200.00 and gave the company a “hold” rating in a report on Wednesday, May 20th. Finally, National Bank Financial upped their price objective on National Bank of Canada from C$183.00 to C$196.00 in a report on Thursday, March 5th. Three investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of C$198.42.

National Bank of Canada Stock Performance

National Bank of Canada stock traded down C$0.21 during midday trading on Thursday, reaching C$203.69. 821,687 shares of the company’s stock were exchanged, compared to its average volume of 1,462,861. National Bank of Canada has a 52 week low of C$132.72 and a 52 week high of C$214.78. The firm has a market cap of C$78.85 billion, a price-to-earnings ratio of 19.64, a P/E/G ratio of 7.14 and a beta of 1.30. The stock’s 50-day simple moving average is C$196.64 and its 200 day simple moving average is C$180.97.

National Bank of Canada (TSE:NA) last posted its quarterly earnings results on Wednesday, May 27th. The financial services provider reported C$3.23 EPS for the quarter. National Bank of Canada had a return on equity of 12.83% and a net margin of 15.85%.The business had revenue of C$3.91 billion during the quarter. Research analysts forecast that National Bank of Canada will post 10.8360791 earnings per share for the current year.

About National Bank of Canada

National Bank of Canada is the sixth-largest Canadian bank. The bank offers integrated financial services, primarily in the province of Quebec as well as the city of Toronto. Operational segments include personal and commercial banking, wealth management, and a financial markets group.