National Bank of Canada (TSE:NA) Reaches New 1-Year High at $109.20

National Bank of Canada (TSE:NA)’s share price reached a new 52-week high on Thursday . The company traded as high as C$109.20 and last traded at C$109.12, with a volume of 275633 shares changing hands. The stock had previously closed at C$108.40.

Analyst Ratings Changes

A number of research firms recently issued reports on NA. Royal Bank of Canada raised their target price on shares of National Bank of Canada from C$109.00 to C$113.00 and gave the company a “sector perform” rating in a research note on Thursday, May 30th. Cormark raised their target price on shares of National Bank of Canada from C$119.00 to C$120.00 in a research note on Thursday, May 30th. Jefferies Financial Group decreased their price target on shares of National Bank of Canada from C$123.00 to C$121.00 and set a “hold” rating on the stock in a research report on Thursday, June 6th. CIBC raised their price target on shares of National Bank of Canada from C$109.00 to C$124.00 and gave the stock an “outperform” rating in a research report on Thursday, May 30th. Finally, Scotiabank decreased their price target on shares of National Bank of Canada from C$119.00 to C$116.00 and set a “hold” rating on the stock in a research report on Tuesday, June 18th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, National Bank of Canada currently has a consensus rating of “Hold” and an average price target of C$113.92.

National Bank of Canada Price Performance

The firm has a market capitalization of C$36.88 billion, a P/E ratio of 11.42, a P/E/G ratio of 17.04 and a beta of 1.12. The stock’s 50 day moving average is C$112.81 and its two-hundred day moving average is C$107.92.

National Bank of Canada (TSE:NA) last posted its quarterly earnings results on Wednesday, May 29th. The financial services provider reported C$2.54 earnings per share for the quarter, topping analysts’ consensus estimates of C$2.43 by C$0.11. The business had revenue of C$2.84 billion during the quarter, compared to the consensus estimate of C$2.89 billion. National Bank of Canada had a net margin of 34.22% and a return on equity of 14.73%. As a group, equities research analysts expect that National Bank of Canada will post 9.8686007 EPS for the current year.

National Bank of Canada Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Monday, June 24th will be issued a dividend of $1.10 per share. The ex-dividend date is Monday, June 24th. This represents a $4.40 dividend on an annualized basis and a yield of 4.05%. This is a boost from National Bank of Canada’s previous quarterly dividend of $1.06. National Bank of Canada’s payout ratio is currently 44.63%.

Insider Activity

In other news, Senior Officer Lucie Blanchet sold 8,800 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of C$107.59, for a total value of C$946,792.00. In other news, Senior Officer Lucie Blanchet sold 8,800 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of C$107.59, for a total value of C$946,792.00. Also, Director Yvon Charest acquired 324 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was acquired at an average cost of C$116.20 per share, for a total transaction of C$37,648.80. Corporate insiders own 0.20% of the company’s stock.

About National Bank of Canada

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.