Bullboard - Stock Discussion Forum National Bank of Canada T.NA

Alternate Symbol(s): NBCDF | NTIOF | T.NA.P.C | T.NA.P.E | T.NA.P.G | T.NA.P.S | T.NA.P.W | NBKCF

National Bank of Canada (the Bank) operates as an integrated financial group. The Bank operates through four segments: Personal and Commercial, Wealth Management, Financial Markets, and U.S. Specialty Finance and International (USSF&I). Its Personal and Commercial segment includes banking, financing, and investing services offered to individuals, advisors, and businesses as well as insurance... see more

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TSX:NA - Post Discussion

National Bank of Canada > David Baskin - BNN - TOP PICK

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Post by Possibleidiot01 on Jul 10, 2023 8:14pm

David Baskin - BNN - TOP PICK

National Bank of Canada (NA TSX)

Despite the headwinds facing the Canadian banking sector, we think National should outperform in a recession. Over half of National’s portfolio is in Quebec, which has lower household leverage and less housing exposure than other provinces. National has a very strong balance sheet and has managed its funding prudently, which should allow for stable margins going forward. At just 10 times earnings and 4.2 per cent dividend yield, we think shares are attractively valued.

stockchase.com

TOP PICK

Most of its mortgage and retail banking is in Quebec. House prices in Quebec are not the same as in Toronto and Vancouver so there are not the same mortgage concerns as with the other Canadian banks. It also has a substantial capital market business and seems to be doing well at it. It is very prudent with recent results being the best of Canadian banks. The dividend is safe. He feels that all Canadian banks are well priced.
Buy 8 Hold 5 Sell 1

(Analysts’ price target is $105.15)

banks

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