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Investor Insights

This summary was created by AI, based on 20 opinions in the last 12 months.

Based on the reviews from various experts, National Bank of Canada (NA-T) is regarded as a strong, well-managed leader in the Canadian banking sector. The acquisition of Canadian Western Bank has bolstered its commercial banking portfolio and diversified its geographical exposure. Despite some skepticism about the valuation and market conditions, the general sentiment is positive, with a focus on long-term performance and growth potential.

Consensus
Positive
Valuation
Fair Value
BUY

If you're in a bull market, you want to own the strongest stocks you can find. He prefers "good, getting better", some kind of positive change that could add to the valuation, and where other people agree with him. He owns RY, CM, and NA; firing on all cylinders.

banks
BUY

Loves the Canadian banks long term. His favourites are NA and RY right now.

banks
HOLD

A leader in the sector over the last year.

banks
PAST TOP PICK
(A Top Pick Jul 19/23, Up 37.63%)

Don't fight the trend. Has been the leader, continues to work. The winners continue to win, so the valuation doesn't really bother him.

banks
HOLD

A leader in the group, stick with it.

banks
BUY
Sell TD to buy NA?

For the past 10-15 years, it's been one of the best banks, outperforming. Their purchase of Canadian Western Bank is transformative, but is a little skeptical about how synergistic the deal will be, but CWB is a good franchise and there will be some synergy. NA will do well overall.  For the next decade, NA has a smaller base to grow than TD, but their earning power will outstrip TD. That said, he would suggest only selling TD marginally to buy NA.

banks
Unspecified

He has owned it for 20 years. It is the 6th largest bank in Canada but not trading at a discount to the big 5 now. In fact it is valued at second place behind Royal Bank so be wary. It hasn't been this expensive before. Banks tend to trade in a range. It bought Canadian Western Bank which is a good deal for both banks.

banks
WAIT

Hesitant on Canadian banking space in general. Mortgage reset date of 2025 hasn't happened yet, with its impact on consumer. Bulk of the bad news hasn't been taken into consideration yet. Trades at a premium, stay away. 

Market bias toward domestic-centric banks right now, so they're doing well. If she had to pick a Canadian-centred bank, she'd pick CM.

banks
WATCH

Owned for a long time, but shaken out with takeover of CWB. Premium for CWB very high. Great job with organic growth. He's a fan, and wouldn't be surprised if he bought it back at some point.

banks
HOLD
Will they fix CWB after the acquisition?

100%. Are the paying a hefty multiple? Also yes. To build what CWB has would be extremely costly and risky. This way, they're getting a great asset at a reasonable price. Great operators.

banks
BUY

If he was going to own national banks, he'd most likely own RY or NA. And if not, then the ZWB strategy is a good one; covered calls give you more upside; yield's around 7.5%; pretty good income stream.

Not a ton of growth in the Canadian market, and not a ton of growth in Canadian banks. Own them for the income more than upside growth.

banks
premium

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TOP PICK

June’s purchase of Canadian Western Bank instantly expanded NA’s presence from mostly Quebec into the western provinces. Overall, the deal will boost NA’s commercial banking portfolio by over 50%. Believe it or not, before the deal was announced National shares outperformed all the other big Canadian banks, even doubling gains made by Royal on a year-to-date basis. Even after the deal, NA remained tied with Royal at roughly 8% for the year.

banks
BUY

Diversified. 40% of revenues come from traditional banking, 25% from wealth management, 25% from markets, 10% from specialty finance. Focused in Quebec. Well managed. Strong growth and profitability. Outperformed peers over last 5 years. 

CWB acquisition is a good fit -- increases size materially, diversifies geographically, adds commercial and wealth management exposure. Shares trading back offers a more attractive entry point.

banks
BUY
Is purchase of CWB a good fit? Down 10% from deal being announced.

In terms of risk, we should be glad it bought in Canada instead of US. Banks that have gone to the US to do acquisitions have been hit and miss. CWB is a durable bank, mainly commercial which is riskier. Interest rates pivoting could certainly help commercial and real estate holdings of CWB.

Cost of capital of the small CWB always high, but now maybe growth can be unleashed as part of a larger bank.

banks
WEAK BUY

Because of the CWB acquisition, NA has come way down, so might be a good time to buy.

banks
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National Bank of Canada(NA-T) Rating

Ranking : 5 out of 5

Bullish - Buy Signals / Votes : 12

Neutral - Hold Signals / Votes : 5

Bearish - Sell Signals / Votes : 1

Total Signals / Votes : 18

Stockchase rating for National Bank of Canada is calculated according to the stock experts' signals. A high score means experts mostly recommend to buy the stock while a low score means experts mostly recommend to sell the stock.

National Bank of Canada(NA-T) Frequently Asked Questions

What is National Bank of Canada stock symbol?

National Bank of Canada is a Canadian stock, trading under the symbol NA-T on the Toronto Stock Exchange (NA-CT). It is usually referred to as TSX:NA or NA-T

Is National Bank of Canada a buy or a sell?

In the last year, 18 stock analysts published opinions about NA-T. 12 analysts recommended to BUY the stock. 1 analyst recommended to SELL the stock. The latest stock analyst recommendation is . Read the latest stock experts' ratings for National Bank of Canada.

Is National Bank of Canada a good investment or a top pick?

National Bank of Canada was recommended as a Top Pick by on . Read the latest stock experts ratings for National Bank of Canada.

Why is National Bank of Canada stock dropping?

Earnings reports or recent company news can cause the stock price to drop. Read stock experts’ recommendations for help on deciding if you should buy, sell or hold the stock.

Is National Bank of Canada worth watching?

18 stock analysts on Stockchase covered National Bank of Canada In the last year. It is a trending stock that is worth watching.

What is National Bank of Canada stock price?

On 2024-11-20, National Bank of Canada (NA-T) stock closed at a price of $137.09.