TSE:NA

National Bank of Canada (NA.TO)

231.29
+0.32 (0.14%)
as of Aug 14, 2026, 8:00:00 pm Market Open.
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Investor Insights
star iconAug 16, 2026, 12:00 am

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

Experts generally express a positive outlook on National Bank of Canada, highlighting its strong position in the Canadian banking sector, especially after the acquisition of Canadian Western Bank. Many point to its focus on wealth management and the ability to generate recurring high fees, positioning it well for future growth in a volatile market environment. There is an expectation of double-digit earnings growth, making it attractive for long-term investors. However, some experts caution about high valuations and potential economic challenges ahead, suggesting a mixed approach of buying and taking profits. Overall, the sentiment reflects confidence in the bank's fundamentals, albeit with a note of caution regarding market conditions.

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Consensus
Positive
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Valuation
Overvalued
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TD,TD.TO
BUY
Has a model price of $65. Over the last couple of years, his model price has constantly moved up with all the banks. Pretty well likes all the banks except for the Commerce (CM-T). There's a buying opportunity.
DON'T BUY
In the aggregate, banks have done very little this year. They are all trading at 55 year valuation highs. There's no fair market valuation support for them to go much higher.
TOP PICK
Has managed to move away from its Quebec base. Built its brokerage side very successfully. Substantially reduced its exposure to the Quebec economy. You are getting 12/15% growth plus a 3.2% dividend.
BUY
If buying a bank today, this one would be his choice. The most interesting. A little bit of Quebec factor has come back into it which in the short run is unwarranted. Has the best opportunity to increase margins and its dividends.
BUY
Prefers Toronto Dominion (TD-T), National Bank (NA-T) or Bank of Montreal (BMO-T) over Royal Bank (RY-T) because there are wider differentials between the stock prices and his model prices.
BUY
Has been hurt by the political concerns re: the Bloc in Quebec. The latest change in the Liberal's fortunes could change this and this could be a good opportunity to acquire.
BUY
Canadian banks continue to offer good value on a medium time frame. If we were to see a rapid ratcheting up of interest rates, they would be vulnerable, but this is not expected. The banks offer reasonable value here.
BUY
Likes Bank of Nova Scotia (BNS-T), National Bank (NA-T) and Royal (RY-T) better than CIBC (CM-T) which has chronically one of the worse performing of the Canadian banks. They are more profitable, better organized and more efficient.
DON'T BUY
What happens in the US ultimately works its way into the Canadian market. US banks are having a very difficult time and are down about 7% year to date. Canadian banks have had good yield support, but they really are not making a lot of headway. They are basically trading sideways.
DON'T BUY
Bank stocks are starting to top which is not surprising. The bull market started in 2002 and we are 2 1/2 years into the bull market. That's usually the time bank stocks start to move down.
DON'T BUY
Doesn't like the banks. They have just come off 52 week highs. Historically they always give you a chance to buy at some point and he is going to wait with his hands open at prices he is willing to pay. Wait until they get ugly.
BUY
Has done well over the last 6 months. As long as it sticks to its knitting, it should perform well.
BUY
This is the bank that he sees outperforming the bank sector. There is still some valuation gap between it and the big 5. Narrowing and will continue to do so. They give a superior yield. Good quality management. Focused and it's showing.
BUY
This is the bank that he sees outperforming the bank sector. There is still some valuation gap between it and the big 5. Narrowing and will continue to do so. They give a superior yield. Good quality management. Focused and it's showing.
BUY
Still likes, but the Bank of Montreal (BMO-T) is now their #1.
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