National Bank of Canada (NA.TO) Buy, Sell or…

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National Bank of Canada (NA.TO)

226.75

+3.33 (1.49%)

as of Jul 6, 2026, 8:00:00 pm Market Open.

549 watching

Investor Insights

Jul 6, 2026, 12:00 am

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

The National Bank of Canada (NA) is regarded as a strong player among Canadian banks, with multiple experts highlighting its focus on wealth management and recent acquisitions, such as Canadian Western Bank, which enhances its national presence. Analysts anticipate robust earnings growth and a potential annual return of around 10% over the coming years, supported by a favorable capital markets environment. While concerns exist regarding high valuations and economic risks, many view NA as a long-term hold due to its higher return on equity and ability to generate recurring revenue. Overall, experts suggest that potential investors consider gradually building a position, as the bank appears well-positioned to thrive in the current economic landscape.

Consensus

Buy

Valuation

Fair Value

Similar

TD,TD

COMMENT

Regional. Doesn't follow closely. By percentage, has the largest exposure to the energy sector. A couple of years ago, this may have seemed like a big problem. But what seems obvious, may not turn out to be real.

BUY

Has held this for a long time. It is not just a Quebec bank but has a dominant platform in wealth management. Also holds investments in the U.S. and Cambodia. It is his favourite bank in Canada and he also likes TD and Royal Bank.

BUY

Results were so-so, but affected by a 1-time issue. Stick with the banks that continue to knock it out of the park. Happy to continue buying. He doesn't foresee a really bad recession in Canada in 2023. Banks can offset a lot of their mortgages. They do have exposure, but it's not as huge as you think. Live and die with wealth management and investment banking operations, so they need the economy to improve.

HOLD

Still likes. Earnings were fine. Balance sheet in good shape. Tough quarter for trading. Solid as a rock, more dividend increases to come.

BUY

Stock's outperformed. Canadian banks don't have high multiples, but good dividend yields. Only issue is retail doesn't have the broad base of a TD or a RY. In this environment, strong retail gives you better net interest income. Would benefit from doing an acquisition.

Premium content

It's a Monthly Gems opinion which is available only for Stockchase Premium

Curated by Allan Tong since 2019.
99+ opinions with 4.15 rating.

TOP PICK

National Bank is the dark horse that operates outside of the Big 5 Canadian banks. It's a smaller bank and, despite its name, has less of a national footprint than its peers, than it has a significant presence in Quebec. NA lacks the American retail operations of TD, but year-to-date is outperforming TD by 2% (though lags #1 Royal Bank by almost 3%). NA is a steady eddy, nothing flashy, but it pays a 4.29% dividend yield that's large among the banks, and trades at a PE just below 9x at a 1.13 beta. Compare that to Royal's valuation of 11.4x and TD's at 10.88x.

WEAK BUY

NA vs. CWB Between these and the Big 5, he'd prefer one of the 5. Between CWB and this, he'd prefer NA. Better diversified in lines of business and geographically. Better scale advantage, management, and capitalized. Its dividend increases may pause if credit losses get too high. Otherwise, high single-digit dividend increases are pretty reliable.

PARTIAL SELL

Sell half of NA to buy BMO? This trade makes sense. Canadian banks have been under pressure given economic slowdown. All the banks grow earnings nicely and return excess capital to shareholders via buybacks and dividends. BMO has done a great job with Bank of the West acquisition. He's tilting toward more US exposure, as the US consumer is in better shape and the economy is less reliant on housing.

BUY

He likes Canadian banks. NA has less of a national footprint compared to its peers and less of a presence in wealth management. But NA specializes in the custody business. Great management and solid dividend. He prefers the larger footprint of its peers.

TOP PICK

It is the 6th largest bank in Canada and smaller than the other five. It is the number one bank in share price appreciation, grows its dividends and has a higher profitability level. It is mostly in Canada and has a good presence in Quebec. There is less competition in Canada than in the U.S. Also there is a higher dividend yield because of the lower valuation and it can buy back more stock. Buy 7, Hold 4, Sell 2. (Analysts’ price target is $104.85)

Premium content

It's a Monthly Gems opinion which is available only for Stockchase Premium

Curated by Allan Tong since 2019.
99+ opinions with 4.15 rating.

TOP PICK

National Bank gets lost between banking peers, namely Royal Bank and TD, like Bill Wyman was overshadowed by Mick Jagger and Keith Richard in the Rolling Stones. NA may not receive attention, but its shareholders certainly get satisfaction. They're paid a solid 3.79% dividend while shares have performed second-best among the big six banks year-to date. (BMO tops them all.) That said, the Canadian banks run in a pack, so choosing any of them is fine if you want a safe, large dividend and reliable growth even in the face of a slowing housing market.

BUY

A great performer compared to its peers. They are a dominant ETF service provider in Canada. Well-managed. The banks here move as a pack, and the leader and laggard often rotate. He owns TD and BNS which offers opportunities in the US and Latin America respectively.

TOP PICK

Next to no loan losses. One of the best revenue growers of any of the Canadian banks in Q2. Payout of 30%. Cambodian asset is doing amazing. Very well run. He's not worried about a recession. Best Canadian bank to own. Yield is 3.78%. (Analysts’ price target is $104.85)

DON'T BUY

NA vs. BNS Prefers BNS. Refocused, sold off non-core international geographies. Well positioned. Gives you exposure to international and Latin American economies, which may be uneven but represent more attractive long-term growth.

PAST TOP PICK

(A Top Pick Jun 04/21, Up 12%) Still his #1 Canadian bank pick. NA has little competition in Quebec, compared to the rest of Canada. Are very successful in managing wealth and proprietory trading. Will benefit from rising interest rates. A solid pick.

Showing 61 to 75 of 666 entries

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National Bank of Canada (NA.TO)