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TSE:NA

National Bank of Canada (NA.TO)

221.68
+1.27 (0.58%)
as of Jun 19, 2026, 8:00:00 pm Market Open.
549 watching
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Investor Insights
star iconJun 19, 2026, 12:00 am

This summary was created by AI, based on 12 opinions in the last 12 months.

Experts have a generally positive outlook on the National Bank of Canada (NA), highlighting its strong focus on wealth management and capital markets, which have proven lucrative amid market volatility. Analysts appreciate the bank's recent acquisitions, particularly that of Canadian Western Bank, which enhances its national presence and cross-selling opportunities. Despite a backdrop of economic concerns including high P/E ratios and the potential for a recession or credit cycle, many believe NA is well-positioned for long-term growth with expected double-digit earnings growth and a possible increase in dividends. Overall, while there are cautionary notes regarding high valuations and market conditions, the sentiment leans towards viewing NA as a strong player in the Canadian banking sector with a strong potential for continued profitability.

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Consensus
Positive
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Valuation
Fair Value
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Similar
TD,TD
DON'T BUY
Canadian banks are too rich right now from a valuation perspective. If the Wellington-West deal goes through, gives them more trading activity. He is always hesitant to invest in a non-retail bank.
COMMENT
Always trades below the value of the other banks because of the Quebec issue. Had a good run. A decent holding but any gains in Cdn banks are going to come from dividend increases.
BUY
Has certain franchising capital market, which he finds attractive along with a retail banking operation but to him Cdn banks don’t look much different from each other. However this one is the cheapest.
PAST TOP PICK
(Top Pick Nov 17/09, Up 14% total Return) 6.4% 11/18/2019. Solid utility, still owns it.
DON'T BUY
The first bank to raise its dividend would be NA. Most conservative and first out of the gate. Canadian economy is slowing slightly, borrowing is slowing and so there are better places to be than banks.
HOLD
His favourite bank. Lowest risk bank in Canada. No US exposure. When financial institutions start to raise their dividends again, this one will be the first bank to do so. It has lots of room to raise it. Recent spike in stock price was from earnings release.
COMMENT
More bullish on the Canadian banking sector now with the improving balance sheets and lower loan loss provisions. Very good, solid domestic bank but he prefers others. (See Top Picks.)
TOP PICK
Confident that Canadian economy is ok. No noise around US operations. Tier one capital of 12.6% vs. 7.7% a decade ago. ROE is 18%. Less than 10x earnings.
TOP PICK
Under appreciated. Trading at a big discount to other banks. Over capitalized. In a position to raise its dividend. They can make acquisitions outside Quebec. No problems, no foreign debt, no significant US exposure. Very little exposure to the bad stuff.
COMMENT
21% upside to his model price. Really no value in the banks as a group but he would get excited about them if there were a correction in the financials.
BUY
Always traded one or two multiple points below other banks because it is locked into its Quebec base. History of increasing dividend.
BUY
2 issues, one May 26/15 @ 4.03% and one Feb11/15 @3.147% selling under par. Likes National Bank as a credit. One of these is probably a deposit note while the other would be a fixed floater. Basically you are looking at a senior debt and a junior debt, which accounts for the difference in yields. Would prefer the junior debt.
TOP PICK
This is one bank that won't get in trouble by buying Greek bonds. Likes their conservative nature. Nice dividend and lower multiple than the other banks. Expecting a dividend increase.
BUY
20.5% upside to the current price.
BUY
Report tomorrow. Are the cheapest bank. He is very comfortable with this one.
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