National Bank of Canada (TSE:NA) Hits New 1-Year High – Here’s Why

National Bank of Canada (TSE:NA)’s stock price hit a new 52-week high on Tuesday . The company traded as high as C$131.36 and last traded at C$130.61, with a volume of 133439 shares traded. The stock had previously closed at C$130.65.

Analyst Ratings Changes

A number of brokerages have weighed in on NA. Royal Bank of Canada increased their target price on shares of National Bank of Canada from C$113.00 to C$116.00 in a research report on Thursday, August 29th. Canaccord Genuity Group increased their target price on shares of National Bank of Canada from C$113.00 to C$123.00 in a research report on Thursday, August 29th. Cibc World Mkts lowered shares of National Bank of Canada from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 20th. Desjardins increased their target price on shares of National Bank of Canada from C$116.00 to C$118.00 and gave the stock a “hold” rating in a research report on Tuesday, August 6th. Finally, UBS Group set a C$123.00 price target on shares of National Bank of Canada and gave the stock a “buy” rating in a report on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of C$122.64.

National Bank of Canada Price Performance

The business’s 50 day moving average is C$124.85 and its two-hundred day moving average is C$116.84. The firm has a market capitalization of C$44.63 billion, a PE ratio of 12.72, a P/E/G ratio of 7.14 and a beta of 1.12.

National Bank of Canada (TSE:NA) last announced its earnings results on Wednesday, August 28th. The financial services provider reported C$2.68 earnings per share for the quarter, beating analysts’ consensus estimates of C$2.50 by C$0.18. The business had revenue of C$2.98 billion for the quarter, compared to the consensus estimate of C$2.95 billion. National Bank of Canada had a net margin of 34.50% and a return on equity of 15.18%. Analysts expect that National Bank of Canada will post 10.8360791 EPS for the current fiscal year.

National Bank of Canada Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Monday, September 30th will be paid a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date of this dividend is Friday, September 27th. National Bank of Canada’s dividend payout ratio is currently 42.84%.

Insider Activity at National Bank of Canada

In other National Bank of Canada news, Director Yvon Charest acquired 325 shares of the stock in a transaction dated Monday, August 19th. The stock was purchased at an average cost of C$117.24 per share, for a total transaction of C$38,103.00. 0.21% of the stock is currently owned by insiders.

National Bank of Canada Company Profile

National Bank of Canada provides financial services to individuals, businesses, institutional clients, and governments in Canada and internationally. It operates through four segments: Personal and Commercial, Wealth Management, Financial Markets, and U.S. Specialty Finance and International. The Personal and Commercial segment offers personal banking services, including transaction solutions, mortgage loans and home equity lines of credit, consumer loans, payment solutions, and savings and investment solutions; various insurance products; and commercial banking services, such as credit, and deposit, investment solutions, international trade, foreign exchange transactions, payroll, cash management, insurance, electronic transactions, and complimentary services.