National Bank of Canada Announces Quarterly Dividend of $1.14 (TSE:NA)

National Bank of Canada (TSE:NA) announced a quarterly dividend on Wednesday, February 26th, RTT News reports. Stockholders of record on Monday, March 31st will be paid a dividend of 1.14 per share by the financial services provider on Thursday, May 1st. This represents a $4.56 dividend on an annualized basis and a dividend yield of 3.79%.

National Bank of Canada Stock Down 5.5 %

Shares of NA stock opened at C$120.47 on Thursday. The company has a 50 day moving average price of C$129.22 and a 200-day moving average price of C$128.73. National Bank of Canada has a 52 week low of C$102.90 and a 52 week high of C$141.15. The firm has a market capitalization of C$46.97 billion, a PE ratio of 10.69, a P/E/G ratio of 7.14 and a beta of 1.12.

Insider Activity

In related news, Director Yvon Charest purchased 334 shares of the business’s stock in a transaction dated Wednesday, February 19th. The shares were purchased at an average cost of C$125.90 per share, for a total transaction of C$42,050.60. Also, insider Marie-Chantal Gingras sold 600 shares of the company’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of C$132.79, for a total transaction of C$79,674.00. Insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on NA shares. CIBC dropped their price target on shares of National Bank of Canada from C$141.00 to C$135.00 in a research report on Tuesday, February 18th. UBS Group lowered their target price on shares of National Bank of Canada from C$150.00 to C$145.00 in a report on Friday, February 14th. Canaccord Genuity Group boosted their target price on shares of National Bank of Canada from C$135.00 to C$142.00 in a report on Thursday, December 5th. Cibc World Mkts downgraded shares of National Bank of Canada from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. Finally, Cormark downgraded shares of National Bank of Canada from a “moderate buy” rating to a “hold” rating in a report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of C$138.20.

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.