Overview
The National Bank of Canada, headquartered in Montreal, Quebec, operates as one of the primary financial institutions in Canada. It serves as a comprehensive provider of financial services, specializing in retail and commercial banking, wealth management, and capital markets. A significant player within the Canadian financial industry, the National Bank of Canada has consistently emphasized innovation and customer-focused services. Key projects include digital transformation initiatives aimed at enhancing online banking platforms and mobile services to meet the evolving needs of its clientele. Additionally, the bank is involved in sustainable finance projects and has made commitments to environmental stewardship through investments in green projects and partnerships with clean energy firms. These strategic focuses reflect the bank's adaptability and commitment to growth in the competitive financial sector.
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Basic Stats
The share price of National Bank of Canada as of June 10, 2024 is $85.68 / share. The market cap (or net worth) of National Bank of Canada as of September 10, 2025 is $33,583.73 MM.
The Factor Analysis chart (below right) shows a view of National Bank of Canada from a variety of lenses. Each factor shows how well the company ranks against all other companies in the Fintel global investing universe. Factor scores range from zero to 100, with 100 being most desirable, and 50 being average.
For example, a company with a Value Score of 100 would be the most undervalued company in our database. A company with a Value Score of zero would be the most overvalued.
| Market Cap | 33,583.73 MM |
| EV | |
| Shares Out. | 391.97 MM |
| Earnings Date | |
| EPS (TTM) | 9.98 |
| Dividend Yield | |
| Ex-Dividend Date | 2025-09-29 |
| Borrow Rate | 0.34 |
| Short Shares Avail. | 1.70 MM |
| Short Interest | |
| Short Float | |
| Days to Cover | |
| Risk Free Rate | 4.08 % |
| Price Change (1 yr) | |
| Volatility (1 yr) | |
| Beta | |
| Sharpe Ratio (1 yr) | |
| Sortino Ratio (1 yr) |
| PE Ratio | |
| Price/Book | |
| Price/TBV | |
| Book/Market | |
| EBIT/EV | |
| EBIT(3yr avg)/EV | |
| ROA | 0.01 |
| ROE | 0.16 |
| ROIC | 0.04 |
| CROIC | -0.03 |
| OCROIC | -0.45 |
| Implied Volatility | |
| Put/Call OI Ratio |
Factor Scores range from 0 to 100, with 100 being most desirable. Larger circles are better. In situations where we have no data (e.g. no insider trades), we plot the score at 50 to avoid penalizing companies. However, a company that does not pay dividends will get a Dividend Score of Zero. Additionally, we inverted volatility to create a "stability" metric which is better when higher.
Price Target
The average one-year price target for National Bank of Canada is $110.96. The forecasts range from a low of $103.50 to a high of $125.78. A stock’s price target is the price at which analysts consider it fairly valued with respect to its projected earnings and historical earnings. Analysts typically set price targets that correspond to their buy or sell recommendations.
Update Frequency: Monthly
Stock Upgrades/Downgrades
This card shows analyst upgrades/downgrades for National Bank of Canada. An analyst rating is a classification that gives investors a sense of analyst sentiment about the direction and performance of an equity - usually a stock - over a period of time, typically 12 months.
The standard analyst ratings are generally as follows:
- Buy/Overweight/Outperform - Any of these ratings conveys an analyst’s belief that the stock is likely to outperform a market index (e.g. the S&P 500).
- Hold/Equal-Weight/Market Perform - Any of these ratings conveys an analyst’s belief that the stock is likely to perform in line with a market index.
- Sell/Underweight/Underperform - Any of these ratings suggest that an analyst believes the stock is likely to underperform a market index.
When an analyst upgrades a stock, they are signaling that the company’s fundamentals are being undervalued by investors. It could also mean they believe the market is underestimating the company’s potential. The opposite is true when a stock receives a downgrade.
The average rating of each individual analyst’s rating is the consensus rating for a stock. This gives investors a broader sense of the overall sentiment for that stock.
| Date | Analyst | Prior | Latest Recommendation |
Action |
|---|---|---|---|---|
| 2023-12-19 | DESJARDINS SECURITIES | Hold | Hold | Maintains |
| 2023-12-06 | CIBC CAPITAL MARKETS | Outperform | Outperform | Maintains |
| 2023-12-04 | VERITAS INVESTMENT RESEARCH | Buy | Buy | Maintains |
| 2023-12-01 | TD SECURITIES | Hold | Hold | Maintains |
| 2023-08-31 | CREDIT SUISSE | Outperform | Outperform | Maintains |
| 2023-08-30 | SCOTIABANK GBM | Outperform | Outperform | Maintains |
| 2023-08-30 | TD SECURITIES | Hold | Hold | Maintains |
| 2023-08-30 | VERITAS INVESTMENT RESEARCH | Buy | Buy | Maintains |
| 2023-08-30 | DESJARDINS SECURITIES | Hold | Hold | Maintains |
| 2023-08-30 | CIBC CAPITAL MARKETS | Outperform | Outperform | Maintains |
| 2023-08-29 | SCOTIABANK GBM | Outperform | Outperform | Maintains |
| 2023-08-29 | TD SECURITIES | Hold | Hold | Maintains |
| 2023-08-29 | VERITAS INVESTMENT RESEARCH | Buy | Buy | Maintains |
| 2023-08-29 | DESJARDINS SECURITIES | Hold | Hold | Maintains |
| 2023-08-29 | CIBC CAPITAL MARKETS | Outperform | Outperform | Maintains |
| 2023-08-18 | CREDIT SUISSE | Outperform | Outperform | Maintains |
| 2023-08-17 | CREDIT SUISSE | Outperform | Outperform | Maintains |
| 2023-06-07 | DESJARDINS SECURITIES | Buy | Hold | Downgrade |
| 2023-06-06 | DESJARDINS SECURITIES | Buy | Hold | Downgrade |
| 2023-06-05 | SCOTIABANK GBM | Outperform | Outperform | Maintains |
| 2023-06-04 | SCOTIABANK GBM | Outperform | Outperform | Maintains |
| 2023-06-01 | VERITAS INVESTMENT RESEARCH | Sell | Buy | Upgrade |
| 2023-06-01 | CREDIT SUISSE | Outperform | Outperform | Maintains |
| 2023-05-31 | VERITAS INVESTMENT RESEARCH | Sell | Buy | Upgrade |
| 2023-05-31 | CREDIT SUISSE | Outperform | Outperform | Maintains |
| 2023-05-31 | TD SECURITIES | Hold | Hold | Maintains |
| 2023-05-31 | CIBC CAPITAL MARKETS | Neutral | Outperform | Upgrade |
| 2023-05-30 | TD SECURITIES | Hold | Hold | Maintains |
| 2023-05-30 | CIBC CAPITAL MARKETS | Neutral | Outperform | Upgrade |
| 2023-04-06 | CORMARK SECURITIES INC. | Buy | Buy | Maintains |
| 2023-04-05 | CORMARK SECURITIES INC. | Buy | Buy | Maintains |
| 2023-03-30 | SCOTIABANK GBM | Outperform | Outperform | Maintains |
| 2023-03-27 | DESJARDINS SECURITIES | Buy | Hold | Downgrade |
| 2023-03-08 | CIBC CAPITAL MARKETS | Neutral | Outperform | Upgrade |
| 2023-03-02 | CREDIT SUISSE | Outperform | Outperform | Maintains |
| 2023-03-01 | TD SECURITIES | Hold | Hold | Maintains |
| 2022-12-08 | Morningstar Inc. | Buy | Maintains | |
| 2022-12-02 | Scotiabank Capital | Outperform | Maintains | |
| 2022-12-01 | STA Research | Underperform | Maintains | |
| 2022-12-01 | CIBC Capital Markets | Outperform | Maintains | |
| 2022-08-25 | TD Research | Hold | Maintains | |
| 2022-08-25 | STA Research | Hold | Reiterate | |
| 2022-08-25 | Canaccord Capital | Hold | Initiate | |
| 2022-08-25 | Scotiabank Capital | Outperform | Maintains | |
| 2022-08-24 | CIBC Capital Markets | Outperform | Maintains | |
| 2022-08-16 | STA Research | Hold | Maintains | |
| 2022-05-30 | STIFEL CANADA | Buy | Buy | Maintains |
| 2022-05-30 | VERITAS INVESTMENT RESEARCH | Sell | Sell | Maintains |
| 2022-05-29 | STIFEL CANADA | Buy | Buy | Maintains |
| 2022-05-29 | VERITAS INVESTMENT RESEARCH | Sell | Sell | Maintains |
| 2022-05-27 | CIBC Capital Markets | Outperform | Maintains | |
| 2022-05-20 | Credit Suisse | Outperform | Initiate | |
| 2022-03-30 | CIBC CAPITAL MARKETS | Neutral | Neutral | Maintains |
| 2022-03-29 | CIBC CAPITAL MARKETS | Neutral | Neutral | Maintains |
| 2022-02-28 | Scotiabank Capital | Outperform | Maintains | |
| 2022-02-25 | CIBC Capital Markets | Neutral | Maintains | |
| 2022-02-18 | Scotiabank Capital | Outperform | Maintains | |
| 2022-01-19 | Morningstar | Hold | Maintains | |
| 2021-12-02 | Morningstar | Buy | Initiate | |
| 2021-12-01 | DESJARDINS SECURITIES | Hold | Buy | Upgrade |
| 2021-12-01 | DESJARDINS SECURITIES | Buy | Buy | Maintains |
| 2021-12-01 | RBCRoyalBank | Sector Perform | Maintains | |
| 2021-12-01 | CIBC WM | Neutral | Maintains | |
| 2021-11-30 | DESJARDINS SECURITIES | Buy | Buy | Maintains |
| 2021-11-17 | RBCRoyalBank | Outperform | Maintains | |
| 2021-11-15 | SCOTIABANK GBM | Outperform | Outperform | Maintains |
| 2021-11-14 | SCOTIABANK GBM | Outperform | Outperform | Maintains |
| 2021-11-12 | VERITAS INVESTMENT RESEARCH | Sell | Sell | Maintains |
| 2021-11-11 | VERITAS INVESTMENT RESEARCH | Sell | Sell | Maintains |
| 2021-11-08 | Sbank | Outperform | Maintains | |
| 2021-09-02 | Credit Suisse | Neutral | Maintains | |
| 2021-09-01 | CREDIT SUISSE | Outperform | Outperform | Maintains |
| 2021-08-31 | CREDIT SUISSE | Outperform | Outperform | Maintains |
| 2021-08-20 | VERITAS INVESTMENT RESEARCH | Buy | Sell | Downgrade |
| 2021-08-19 | VERITAS INVESTMENT RESEARCH | Buy | Sell | Downgrade |
| 2021-05-31 | VERITAS INVESTMENT RESEARCH | Outperform | Buy | Maintains |
| 2021-05-31 | CIBC World Markets | Neutral | Maintains | |
| 2021-05-30 | VERITAS INVESTMENT RESEARCH | Outperform | Buy | Maintains |
| 2021-03-24 | VERITAS INVESTMENT RESEARCH | Outperform | Outperform | Maintains |
| 2021-03-23 | VERITAS INVESTMENT RESEARCH | Outperform | Outperform | Maintains |
| 2021-03-05 | CIBC World Markets | Neutral | Maintains | |
| 2021-03-03 | Credit Suisse | 85 | 87 | Upgrade |
| 2021-03-02 | CIBC World Markets | 92 | 89 | Downgrade |
| 2021-02-26 | Cormark Securities | Market Perform | Buy | Upgrade |
| 2021-02-25 | BMO Capital Markets | Market Perform | Outperform | Upgrade |
| 2021-02-25 | Canaccord Genuity | 76 | 81 | Upgrade |
| 2021-02-24 | DESJARDINS SECURITIES | Hold | Hold | Maintains |
| 2020-12-03 | BMO Capital Markets | 72 | 77 | Upgrade |
| 2020-12-03 | Canaccord Genuity | 69 | 74.5 | Upgrade |
| 2020-12-03 | Credit Suisse | 74 | 76 | Upgrade |
| 2020-12-03 | RBC Capital | Outperform | Sector Perform | Downgrade |
| 2020-11-23 | Sbank | 77 | 83 | Upgrade |
| 2020-11-19 | CIBC World Markets | Outperform | Neutral | Downgrade |
| 2020-08-27 | BMO Capital Markets | 60 | 65 | Upgrade |
| 2020-08-27 | Credit Suisse | Underperform | Neutral | Upgrade |
| 2020-08-21 | Credit Suisse | 58 | 60 | Upgrade |
| 2020-08-20 | Eight Capital | 69 | 74 | Upgrade |
| 2020-08-19 | Canaccord Genuity | 61 | 63 | Upgrade |
| 2020-05-20 | Canaccord Genuity | 72.5 | 58.5 | Downgrade |
| 2020-03-31 | Sbank | Sector Perform | Outperform | Upgrade |
| 2020-03-20 | TD Securities | Hold | Buy | Upgrade |
| 2020-02-28 | Credit Suisse | 69 | 70 | Upgrade |
| 2020-02-20 | Sbank | 77 | 79 | Upgrade |
| 2019-12-05 | Canaccord Genuity | 68.5 | 72.5 | Upgrade |
| 2019-12-05 | Sbank | 72 | 77 | Upgrade |
| 2019-11-21 | CIBC World Markets | 67 | 73 | Upgrade |
| 2019-11-20 | Sbank | 71 | 72 | Upgrade |
| 2019-09-06 | Credit Suisse | Neutral | Underperform | Downgrade |
| 2019-09-04 | Eight Capital | 63 | 66 | Upgrade |
| 2019-08-29 | BMO Capital Markets | 69 | 66 | Downgrade |
| 2019-08-14 | Eight Capital | 67 | 63 | Downgrade |
| 2019-06-11 | Barclays | Equal Weight | Underweight | Downgrade |
| 2018-12-11 | Desjardins Securities | 64 | 62 | Downgrade |
| 2018-12-06 | Barclays | 65 | 62 | Downgrade |
| 2018-12-06 | Canaccord Genuity | 64 | 67 | Upgrade |
| 2018-12-06 | Eight Capital | 70 | 69 | Downgrade |
| 2018-11-22 | Canaccord Genuity | 69 | 64 | Downgrade |
| 2018-11-16 | Barclays | 69 | 65 | Downgrade |
| 2018-08-30 | Canaccord Genuity | Buy | Hold | Downgrade |
| 2018-08-30 | Barclays | 67 | 69 | Upgrade |
| 2018-08-30 | Desjardins Securities | 64 | 66 | Upgrade |
| 2018-06-11 | CIBC World Markets | 69 | 67 | Downgrade |
| 2018-05-31 | Cormark Securities | 66 | 67 | Upgrade |
| 2018-05-31 | Eight Capital | 68 | 70 | Upgrade |
| 2018-05-31 | Barclays | 65 | 67 | Upgrade |
| 2018-03-01 | Barclays | 64 | 65 | Upgrade |
| 2018-02-14 | RBC Capital | 70 | 71 | Upgrade |
| 2018-01-19 | Credit Suisse | 61 | 64 | Upgrade |
| 2017-12-04 | Eight Capital | Buy | Neutral | Downgrade |
| 2017-12-04 | Desjardins Securities | 62 | 64 | Upgrade |
| 2017-12-04 | Credit Suisse | 59 | 61 | Upgrade |
| 2017-12-04 | Canaccord Genuity | 66 | 68 | Upgrade |
| 2017-11-13 | CIBC World Markets | 62 | 68 | Upgrade |
| 2017-11-01 | Canaccord Genuity | 62 | 66 | Upgrade |
| 2017-08-31 | Canaccord Genuity | 60 | 62 | Upgrade |
| 2017-03-02 | TD Securities | Hold | Maintains | |
| 2017-03-02 | Sbank | Outperform | Maintains | |
| 2017-03-02 | Desjardins Securities | Hold | Maintains | |
| 2017-03-02 | BMO Capital Markets | Market Perform | Maintains | |
| 2017-03-02 | Barclays | Equal-Weight | Maintains | |
| 2017-01-17 | Credit Suisse | Neutral | Underperform | Downgrade |
| 2016-12-05 | TD Securities | Hold | Maintains | |
| 2016-12-05 | Sbank | Outperform | Maintains | |
| 2016-11-15 | Credit Suisse | Neutral | Maintains | |
| 2016-10-28 | TD Securities | Hold | Maintains | |
| 2016-09-21 | Dundee Securities | Neutral | Maintains | |
| 2016-09-20 | Sbank | Outperform | Maintains | |
| 2016-09-01 | TD Securities | Hold | Maintains | |
| 2016-09-01 | Sbank | Outperform | Maintains | |
| 2016-09-01 | Desjardins Securities | Hold | Maintains | |
| 2016-09-01 | RBC Capital | Outperform | Maintains | |
| 2016-08-19 | Barclays | Equal Weight | Maintains | |
| 2016-08-04 | Desjardins Securities | Hold | Maintains | |
| 2016-06-02 | Sbank | Sector Perform | Outperform | Maintains |
| 2016-06-02 | RBC Capital | Sector Perform | Outperform | Upgrade |
| 2016-05-10 | TD Securities | Hold | Maintains | |
| 2016-05-03 | Credit Suisse | Outperform | Neutral | Maintains |
| 2016-04-12 | Sbank | Sector Perform | Maintains | |
| 2016-02-24 | TD Securities | Hold | Maintains | |
| 2016-02-24 | BMO Capital Markets | At Market Perform | Maintains | |
| 2016-02-24 | Bank of America | Buy | Maintains | |
| 2015-11-24 | Canaccord Genuity | Hold | Maintains | |
| 2015-08-21 | Canaccord Genuity | Hold | Maintains | |
| 2015-08-17 | CIBC World Markets | Sector Perform | Maintains | |
| 2015-06-01 | RBC Capital | Sector Perform | Maintains | |
| 2015-06-01 | BMO Capital Markets | At Market Perform | Maintains | |
| 2015-01-30 | Barclays | Equal Weight | Maintains | |
| 2015-01-26 | CIBC World Markets | Sector Perform | Maintains | |
| 2015-01-21 | Canaccord Genuity | Hold | Maintains | |
| 2014-08-28 | BMO Capital Markets | At Market Perform | Maintains | |
| 2014-08-28 | RBC Capital | Sector Perform | Maintains | |
| 2014-08-28 | Barclays | Equal Weight | Maintains | |
| 2014-08-28 | Credit Suisse | Neutral | Maintains | |
| 2014-08-12 | CIBC World Markets | Sector Underperform | Maintains | |
| 2014-06-10 | TD Securities | Hold | Maintains | |
| 2014-05-29 | RBC Capital | Sector Perform | Maintains | |
| 2014-05-29 | CIBC World Markets | Sector Underperform | Maintains | |
| 2014-05-28 | Sbank | Sector Perform | Maintains | |
| 2014-05-20 | Barclays | Equal Weight | Maintains | |
| 2014-05-01 | Canaccord Genuity | Hold | Initiate | |
| 2014-03-17 | Credit Suisse | Neutral | Underperform | Maintains |
| 2014-02-26 | CIBC World Markets | Sector Underperform | Sector Perform | Maintains |
| 2013-12-05 | TD Securities | Hold | Maintains | |
| 2013-12-05 | CIBC World Markets | Sector Underperform | Maintains | |
| 2013-12-05 | RBC Capital | Outperform | Maintains | |
| 2013-12-05 | Barclays | Equal Weight | Maintains | |
| 2013-11-21 | Barclays | Underweight | Maintains | |
| 2013-10-17 | TD Securities | Hold | Initiate | |
| 2013-08-30 | Credit Suisse | Neutral | Maintains | |
| 2013-08-29 | RBC Capital | Outperform | Maintains | |
| 2013-08-29 | CIBC World Markets | Sector Underperform | Maintains | |
| 2013-08-29 | BMO Capital Markets | At Market Perform | Maintains | |
| 2013-08-29 | Barclays | Equal Weight | Maintains | |
| 2013-08-13 | Barclays | Equal Weight | Maintains | |
| 2013-06-18 | Barclays | Equal Weight | Maintains | |
| 2013-05-27 | BMO Capital Markets | At Market Perform | Maintains | |
| 2013-05-27 | RBC Capital | Outperform | Maintains | |
| 2013-05-27 | Canaccord Genuity | Hold | Buy | Upgrade |
| 2013-03-04 | BMO Capital Markets | At Market Perform | Maintains | |
| 2013-03-04 | CIBC World Markets | Sector Underperform | Maintains | |
| 2013-03-01 | RBC Capital | Sector Perform | Maintains | |
| 2024-08-06 | TD COWEN | Hold | Hold | Maintains |
| 2024-08-01 | DESJARDINS SECURITIES | Hold | Hold | Maintains |
| 2024-06-16 | CIBC CAPITAL MARKETS | Outperform | Outperform | Maintains |
| 2024-03-06 | TD SECURITIES | Hold | Hold | Maintains |
| 2024-02-21 | VERITAS INVESTMENT RESEARCH | Buy | Buy | Maintains |
| 2023-12-18 | DESJARDINS SECURITIES | Hold | Hold | Maintains |
| 2023-12-05 | CIBC CAPITAL MARKETS | Outperform | Outperform | Maintains |
| 2023-12-03 | VERITAS INVESTMENT RESEARCH | Buy | Buy | Maintains |
| 2023-11-30 | TD SECURITIES | Hold | Hold | Maintains |
| 2023-08-30 | CREDIT SUISSE | Outperform | Outperform | Maintains |
| 2025-04-06 | CIBC CAPITAL MARKETS | Neutral | Underperform | Downgrade |
| 2025-03-07 | CANACCORD GENUITY | Hold | Hold | Maintains |
| 2025-03-03 | CIBC CAPITAL MARKETS | Neutral | Neutral | Maintains |
| 2025-03-02 | TD COWEN | Hold | Hold | Maintains |
| 2025-03-02 | DESJARDINS SECURITIES | Hold | Hold | Maintains |
| 2025-02-25 | JEFFERIES | Buy | Buy | Maintains |
| 2024-12-21 | CIBC CAPITAL MARKETS | Outperform | Neutral | Downgrade |
| 2024-12-19 | DESJARDINS SECURITIES | Hold | Hold | Maintains |
| 2024-12-08 | TD COWEN | Hold | Hold | Maintains |
| 2024-12-03 | CANACCORD GENUITY | Hold | Hold | Maintains |
| 2024-09-08 | CIBC CAPITAL MARKETS | Outperform | Outperform | Maintains |
| 2024-08-20 | VERITAS INVESTMENT RESEARCH | Buy | Buy | Maintains |
| 2025-07-17 | SCOTIABANK GBM | Outperform | Outperform | Maintains |
| 2025-07-01 | JEFFERIES | Buy | Hold | Downgrade |
| 2025-06-08 | CANACCORD GENUITY | Hold | Hold | Maintains |
| 2025-06-03 | CIBC CAPITAL MARKETS | Underperform | Underperform | Maintains |
| 2025-06-01 | TD COWEN | Hold | Hold | Maintains |
| 2025-06-01 | DESJARDINS SECURITIES | Hold | Hold | Maintains |
