Cormark Downgrades National Bank of Canada (TSE:NA) to Hold

National Bank of Canada (TSE:NA) was downgraded by equities research analysts at Cormark from a “moderate buy” rating to a “hold” rating in a note issued to investors on Friday,Zacks.com reports.

Other research analysts have also recently issued research reports about the company. Cibc World Mkts cut National Bank of Canada from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 18th. CIBC cut their price target on shares of National Bank of Canada from C$141.00 to C$135.00 in a report on Tuesday, February 18th. Jefferies Financial Group dropped their price target on National Bank of Canada from C$153.00 to C$149.00 in a research report on Tuesday, February 18th. Royal Bank of Canada upped their target price on shares of National Bank of Canada from C$134.00 to C$145.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 8th. Finally, Canaccord Genuity Group upped their target price on National Bank of Canada from C$135.00 to C$142.00 in a research note on Thursday, December 5th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of C$138.20.

National Bank of Canada Stock Performance

NA opened at C$124.43 on Friday. National Bank of Canada has a fifty-two week low of C$102.90 and a fifty-two week high of C$141.15. The firm has a 50-day moving average of C$129.74 and a 200 day moving average of C$128.52. The firm has a market cap of C$48.51 billion, a P/E ratio of 11.04, a PEG ratio of 7.14 and a beta of 1.12.

Insider Activity

In other National Bank of Canada news, Director Yvon Charest acquired 334 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were acquired at an average cost of C$125.90 per share, with a total value of C$42,050.60. Also, Senior Officer Brigitte Hébert sold 400 shares of the stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of C$132.46, for a total value of C$52,984.00. Corporate insiders own 0.21% 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.