National Bank of Canada Launches CAD 2.25 Billion Share Buyback

National Bank of Canada's stock saw a modest increase on October 6, 2026, trading at CAD 203.70 on the Toronto Stock Exchange, up 0.52 percent from the previous close. The bank announced a new CAD 2.25 billion share repurchase program, covering up to 10 million common shares, or 2.6 percent of its outstanding shares. This program, approved as a normal course issuer bid, is set to begin on October 8, 2026, and run through October 7, 2027.

The bank's recent financial performance has been strong. In Q3 2026, National Bank reported adjusted earnings per share (EPS) of CAD 3.39, a 26 percent year-over-year increase, while revenue rose 18 percent. Return on equity stood at 16.8 percent, and the CET1 capital ratio was 13.51 percent. Wealth management and Capital Markets net income also saw significant gains, up 22 percent and 32 percent year-over-year, respectively.

Analysts have mixed views on the stock. Canaccord Genuity raised its price target to CAD 228.00, while Jefferies increased its target to CAD 213.00. The consensus among 11 analysts is a Hold rating, with an average target of CAD 218.50, about 7.3 percent above the current trading price. The next earnings release and conference call are scheduled for December 4, 2026.

As of October 6, 2026, National Bank of Canada's stock was trading 14.1 percent below its 52-week high of CAD 237.13, with a market capitalization of CAD 78.5 billion. The stock's 52-week low was CAD 148.87.