TSE:NA

National Bank of Canada (NA.TO)

217.91
+0.01 (0.00%)
as of Sep 4, 2026, 8:00:00 pm Market Open.
549 watching
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Investor Insights
star iconSep 5, 2026, 12:00 am

This summary was created by AI, based on 13 opinions in the last 12 months.

Experts have a generally positive outlook on the National Bank of Canada (NA), highlighting its strong position in the wealth management sector and the benefits of its recent acquisition of Canadian Western Bank (CWB). With a focus on high recurring fees and a diversified national presence, NA is well-positioned for future growth. While some experts express caution about high P/E ratios and potential economic risks, they also recognize the potential for double-digit earnings growth and increasing dividends. The bank's performance amidst market volatility and its strategic positioning make it an attractive long-term investment. However, a few analysts are starting to take profits, indicating a cautious approach as the sector's valuations reach historic highs.

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Consensus
Positive
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Valuation
Overvalued
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Similar
TD,TDC
PAST TOP PICK
(A Top Pick May 11/09. Up 26%.) Still likes it. Thinks it will start to flatten out. All the banks are approaching their old highs and hitting technical resistant levels. This one has the lowest PE of the group at 9X earnings. Great dividend and no US exposure.
PAST TOP PICK
(A Top Pick Sept 2/08. Up 26.5%.) Most profitable bank in Canada. Looks like it can continue to expand in its niche. Potential to raise dividends. Trading at 9X earnings versus its peers at 11X or 12X. Still inexpensive.
PAST TOP PICK
(A Top Pick Sept 2/08. Up 23.18%.) Liked it because of the little they had to do with the US. Have done very well with her brokerage and trading. Wealth management share in Quebec is very strong.
BUY ON WEAKNESS
Had some issues with asset-backed paper. Was probably totally undervalued when it collapsed. Somewhat limited to the Quebec area with limited franchises in other areas. Made some changes and is becoming better run. Will always trade at a discount to the other banks. Prefers Toronto Dominion (TD-T) and Royal (RY-T).
TOP PICK
A little bearish on the US$ versus Canadian. This bank literally has no exposure to the US. Would sell if it reached its old high of $55.
WAIT
Likes because of Quebec exposure and no US and limited western Canada exposure. Quebec’s economy seems to be more resilient. Yield is in line with piers but better earnings momentum and ROE.
HOLD
In all the Canadian banks, it has the least risk regarding bad loan portfolios and bad assets. No US exposure. Not buying any of the other banks yet because expects immediate future will be showing loan losses. 6.4% yield.
BUY
A wonderful investment if you are holding for the long-term. 6% yield. His favourite banks would be Toronto Dominion (TD-T) with a 5.5% yield and Royal (RY-T) with a 5.3% yield.
DON'T BUY
Ran into some trouble with their asset-backed commercial paper program but have been fairly clean in regards to their write-down relating to the US subprime sector. Like any Canadian bank, they are going to have trouble with increased loan-loss provisions.
BUY
Preferred Shares. Like the other banks, they have issued preferred shares with a yield of 6.6%, which is pretty attractive.
BUY
(Market Call Minute.) Good supportive dividend yield. Low dividend payout ratio relative to earnings. Sees some good attractive upside from here.
PAST TOP PICK
(A Top Pick Jan 2/08. Down 32.2%.) Liked it because had taken the asset-backed commercial paper off and expected a rebound. Earnings growth will be quite good. 7.5% yield. Buy.
COMMENT
ABCP settlement has been a big overhang on the stock but looks like it is going to get done. Trading at a very substantial discount on an earnings multiple compared to the other 5 major banks so will play a little bit of catch-up. 7.25% yield should be safe.
BUY
(Market Call Minute.) Any of the Canadian banks are Buys and this one is not a bad name.
DON'T BUY
The model price is $39.17, a 38% positive differential. Wouldn't buy it just yet.
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