FY2024 EPS Estimates for National Bank of Canada Increased by Cormark (TSE:NA)

National Bank of Canada (TSE:NA) – Equities researchers at Cormark upped their FY2024 earnings per share estimates for shares of National Bank of Canada in a research note issued on Thursday, August 29th. Cormark analyst L. Persaud now expects that the financial services provider will earn $10.37 per share for the year, up from their prior forecast of $10.06. The consensus estimate for National Bank of Canada’s current full-year earnings is $10.48 per share. Cormark also issued estimates for National Bank of Canada’s FY2025 earnings at $10.61 EPS.

National Bank of Canada (TSE:NA) last posted its earnings results on Wednesday, August 28th. The financial services provider reported C$2.68 EPS for the quarter, beating the consensus estimate of C$2.50 by C$0.18. National Bank of Canada had a return on equity of 15.18% and a net margin of 34.50%. The firm had revenue of C$2.98 billion during the quarter, compared to the consensus estimate of C$2.95 billion.

A number of other research firms have also commented on NA. Desjardins upped their price target on National Bank of Canada from C$116.00 to C$118.00 and gave the company a “hold” rating in a research report on Tuesday, August 6th. TD Securities increased their target price on National Bank of Canada from C$123.00 to C$129.00 in a research note on Thursday, August 29th. CIBC increased their price target on National Bank of Canada from C$122.00 to C$134.00 in a report on Thursday, August 29th. Canaccord Genuity Group increased their price target on National Bank of Canada from C$113.00 to C$123.00 in a report on Thursday, August 29th. Finally, Jefferies Financial Group raised their target price on National Bank of Canada from C$119.00 to C$126.00 in a report on Thursday, August 29th. One analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of C$121.33.

National Bank of Canada Stock Performance

Shares of TSE NA opened at C$123.79 on Monday. The stock has a fifty day moving average of C$114.40 and a 200-day moving average of C$112.45. National Bank of Canada has a fifty-two week low of C$84.27 and a fifty-two week high of C$127.22. The stock has a market cap of C$42.14 billion, a PE ratio of 12.05, a price-to-earnings-growth ratio of 17.04 and a beta of 1.13.

Insider Buying and Selling

In other National Bank of Canada news, Senior Officer Lucie Blanchet sold 8,800 shares of the stock in a transaction on Thursday, June 20th. The shares were sold at an average price of C$107.59, for a total transaction of C$946,792.00. In other National Bank of Canada news, Director Yvon Charest bought 325 shares of National Bank of Canada stock in a transaction on Monday, August 19th. The stock was purchased at an average cost of C$117.24 per share, for a total transaction of C$38,103.00. Also, Senior Officer Lucie Blanchet sold 8,800 shares of National Bank of Canada stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of C$107.59, for a total transaction of C$946,792.00. 0.21% of the stock is currently owned by company insiders.

National Bank of Canada Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Monday, September 30th will be given a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 3.55%. The ex-dividend date of this dividend is Friday, September 27th. National Bank of Canada’s dividend payout ratio (DPR) is 42.84%.

National Bank of Canada Company Profile

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.