National Bank of Canada (TSE:NA) Sets New 1-Year High at $109.76

National Bank of Canada (TSE:NA)’s share price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$109.76 and last traded at C$110.00, with a volume of 276953 shares traded. The stock had previously closed at C$109.22.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. UBS Group set a C$123.00 price objective on shares of National Bank of Canada and gave the company a “buy” rating in a research note on Tuesday. Cormark lifted their price objective on shares of National Bank of Canada from C$119.00 to C$120.00 in a research note on Thursday, May 30th. BMO Capital Markets lowered their price objective on shares of National Bank of Canada from C$121.00 to C$115.00 and set an “outperform” rating for the company in a research note on Tuesday, June 18th. Jefferies Financial Group lowered their price objective on shares of National Bank of Canada from C$123.00 to C$121.00 and set a “hold” rating for the company in a research note on Thursday, June 6th. Finally, CIBC lifted their price objective on shares of National Bank of Canada from C$109.00 to C$124.00 and gave the company an “outperform” rating in a research note on Thursday, May 30th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, National Bank of Canada currently has a consensus rating of “Hold” and a consensus price target of C$114.62.

National Bank of Canada Stock Up 0.9 %

The company has a 50-day moving average price of C$112.71 and a two-hundred day moving average price of C$108.23. The stock has a market capitalization of C$37.44 billion, a P/E ratio of 11.59, a PEG ratio of 17.04 and a beta of 1.12.

National Bank of Canada (TSE:NA) last issued its quarterly earnings data on Wednesday, May 29th. The financial services provider reported C$2.54 EPS for the quarter, topping the consensus estimate of C$2.43 by C$0.11. National Bank of Canada had a return on equity of 14.73% and a net margin of 34.22%. The company had revenue of C$2.84 billion during the quarter, compared to analyst estimates of C$2.89 billion. On average, sell-side analysts expect that National Bank of Canada will post 9.8686007 earnings per share for the current year.

National Bank of Canada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Monday, June 24th will be paid a $1.10 dividend. The ex-dividend date is Monday, June 24th. This represents a $4.40 annualized dividend and a yield of 3.99%. This is a positive change from National Bank of Canada’s previous quarterly dividend of $1.06. National Bank of Canada’s dividend payout ratio is currently 44.63%.

Insiders Place Their Bets

In related news, Director Yvon Charest acquired 324 shares of the company’s stock in a transaction dated Tuesday, May 21st. The stock was purchased at an average price of C$116.20 per share, with a total value of C$37,648.80. In other National Bank of Canada news, Director Yvon Charest bought 324 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The stock was bought at an average price of C$116.20 per share, for a total transaction of C$37,648.80. Also, 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. 0.20% of the stock is 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.