TSE:NA

National Bank of Canada (NA.TO)

228.42
+1.02 (0.45%)
as of Jul 27, 2026, 8:00:00 pm Market Open.
549 watching
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Investor Insights
star iconJul 26, 2026, 12:00 am

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

Experts generally view the National Bank of Canada (NA) as a strong investment with a focus on growth, particularly in wealth management and capital markets. Several reviews highlight the positive impact of its acquisition of Canadian Western Bank (CWB), which broadens its national presence and improves cross-selling opportunities. There is confidence in double-digit earnings growth and the potential for solid annual returns, even as concerns about high valuations and economic risks, such as potential recessions or credit cycles, are noted. While the stock's valuation is perceived as rich, its ability to generate high recurring fees and its diversified national presence contribute to a favorable long-term outlook. Overall, experts believe NA is well-positioned to thrive in the current market environment.

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Consensus
Buy
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Valuation
Fair Value
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Similar
TD-T
HOLD

Canadian Banks including TD-T and RY-T. He wishes we had earnings out of the banks because we are flying blind. It is hard to see anything positive out of then. The stocks have fallen a lot. His preferred is NA-T. It is hard to be materially bullish on the Banks unless you are a long term investor. He would not add more to positions, just hold.

COMMENT
Reset preferreds of 2-year duration? Many investors have been burned by these preferreds. They look attractive, but none will be called as long as rates are this low, and the dividends may get cut. This is why these preferreds are so cheap now. Better to buy a bank stock that pays a stable dividend.
HOLD
He owns the other chartered banks. He regrets that since the shares have done really well against its peers. A large focus on technology loans, with a good dividend. He sees good things yet to come. At these valuations, he would continue to hold. (Analysts’ price target is $72.00)
BUY
It's one of the best looking bank stock. It looks more like an insurance stock. A nice 50% increase from the bottom with a good dividend. There could be more upside looking at the chart pattern. Not a very volatile stock.
HOLD
It has been a spectacular performer. It has a very profitable niche in Quebec. They have a strong wealth management business that has helped them as well. They are the largest custodian for large institutional investors. He would hold it here.
HOLD
Its multiple has expanded to match its bigger peers, so he's wary, since their quality of business isn't as high as those peers. This is a relative valuation call.
TOP PICK
It's his favourite bank. Always liked its cheap fundamentals, and it continues to dominate Quebec. Nice earnings. They've benefited from a vibrant real estate market in Montreal. (Analysts’ price target is $67.92)
BUY
Its rally will continue. He would buy all the Canadian banks. Great chart with lots of volume. It's built a base, so it can move higher.
TOP PICK
Trading at near all time highs, it has the best chart of the Canadian banks. The breakout above $64 was followed with good earnings being reported. Yield 4.01% (Analysts’ price target is $65.64)
COMMENT
Banks are defensive in an economic downturn. The stock over the past number of years has been doing well. They have delivered better in the capital market activity and have narrowed their spread with other banks. He doesn't own any Canadian financials due to interest rates. The dividend is safe.
HOLD
It's done very well, having grown beyond Quebec in the past 10 years and closed the valuation gap with the big banks. Problem is, can it continue to grow as much in the next 10 years? It lacks international diversification. NA is a decent hold, but he'd buy other banks.
BUY
More of a growth story than other banks. Has hung in there better than some other banks. They have the bulk of their activity in Eastern Canada which is a driving force right now. Overall, a good dividend stock. The market has been rewarding them.
COMMENT

NA or LB? He prefers NA-T as it is better quality and has a more diverse revenue base. He thinks LB-T is having issues and that will continue for some time to come.

BUY
They owned three other banks that are larger and more diversified. If he ran a more broader portfolio he would have no problem owning this stock. Having said that you should temper your expectation for the next 5 years as Quebec is their bigger market and it's been the stronger economy in Canada. All banks are now cheap as there are macro concerns in the market that he doesn't share. The group has outperform the TSX in 20 of the last 25 years.
WAIT
Has been pulling back on the whole sector. Would rather see the dividend north of 4%. Will probably see more price compression, perhaps $5, before you want to get in.
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