Stocks Wobble As RBC Kicks Off Bank Earnings

Bank of Canada sign is seen outside of a branch in Ottawa

National Bank of Canada (OTC:NTIOF) opened at 44.25 on Monday. The average 12-month price target among brokerages that have updated their coverage on the stock in the previous year is C$30.08.

Royal Bank of Canada is reporting almost $2.8 billion of net income for its fiscal third quarter and an unexpectedly large increase to its quarterly dividend.

Adjusted profit, which excludes some items, was C$1.89 a share, the bank said, two cents better than forecast despite a drop in trading revenues. National Bank of Canada has a 52-week low of $34.19 and a 52-week high of $46.10.

Laurentian Bank of Canada (TSE:LB) will release its earnings data before the market opens on Tuesday, August 29th. The consensus target price is $22.73 with 0 firms rating the stock a strong buy, 0 firms rating the stock a buy, 10 firms rating the stock a hold, 4 firms rating the stock a underperform, and finally 0 firms rating the stock a sell. Scheer Rowlett & Associates Investment Management Ltd sold 112,070 shares as the company's stock declined 9.02% while stock markets rallied. The stock has a 50 day moving average price of $74.24 and a 200-day moving average price of $72.08.

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Iamgold Corp gained 3.7 percent to C$7.49 and Cominar REIT jumped 5.2 percent to C$13.47 after analysts at Bank of Montreal raised their price targets and recommendations on the stocks. Citigroup maintained it with "Buy" rating and $95 target in Wednesday, September 14 report. Scotia Capital maintained National Bank of Canada (TSE:NA) rating on Thursday, August 27. The rating was maintained by Scotia Capital on Friday, June 3 with "Sector Perform". Canaccord Genuity maintained the stock with "Buy" rating in Wednesday, June 8 report.

Canadian Western Bank is a Canada bank engaged in offering a range of financial services. The Bank specializes in mid-market commercial banking, real estate and construction financing, and equipment financing and leasing.

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