Securing Growth with National Bank of Canada
National Bank of Canada (the Bank) is a Quebec based chartered bank. The Bank operates in three segments: Personal and Commercial, Wealth Management and Financial Markets. National Bank offers an array of banking services, including retail, corporate and investment banking. The Bank through its subsidiaries is involved in securities brokerage, insurance and wealth management, as well as mutual fund and retirement plan management.
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National Bank (NA-T) is among the Top 10 Purple Chips stocks on the TSX. These stocks have the steadiest and most predictable earnings of all the Purple Chips.
NA has the lowest PE of the major banks at 9.6X earnings. As well, it pays a 4.4% dividend. The market capitalization is $CAD 12.2 billion.
LOW VALUATION IN NATIONAL BANK AT $CAD 75.50 (NA-T, $CAD 75.67)
Assuming that the trend in earnings is maintained, the Purple Chips target is $CAD 87.00 in 12 to 18 months.
