National Bank of Canada (TSE:NA) Reaches New 52-Week High – Here’s Why

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

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Jefferies Financial Group increased their price objective on shares of National Bank of Canada from C$119.00 to C$126.00 in a research report on Thursday, August 29th. Cormark boosted their target price on shares of National Bank of Canada from C$122.00 to C$128.00 in a research note on Thursday, August 29th. Desjardins boosted their price objective on shares of National Bank of Canada from C$116.00 to C$118.00 and gave the company a “hold” rating in a research report on Tuesday, August 6th. Royal Bank of Canada upped their target price on National Bank of Canada from C$113.00 to C$116.00 in a report on Thursday, August 29th. Finally, Cibc World Mkts downgraded National Bank of Canada from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 20th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of C$122.64.

National Bank of Canada Trading Up 0.0 %

The business’s 50-day moving average price is C$125.53 and its 200-day moving average price is C$117.09. The stock has a market cap of C$44.64 billion, a PE ratio of 12.77, a P/E/G ratio of 7.14 and a beta of 1.12.

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

National Bank of Canada Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders 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 3.35%. The ex-dividend date of this dividend is Friday, September 27th. National Bank of Canada’s dividend payout ratio (DPR) is presently 42.84%.

Insider Transactions at National Bank of Canada

In related news, Director Yvon Charest acquired 325 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was purchased at an average cost of C$117.24 per share, with a total value of C$38,103.00. Insiders own 0.21% of the company’s stock.

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.