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

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

Analyst Upgrades and Downgrades

Several brokerages have weighed in on NA. Cibc World Mkts cut shares of National Bank of Canada from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 20th. Cormark lifted their price objective on shares of National Bank of Canada from C$122.00 to C$128.00 in a research note on Thursday, August 29th. Jefferies Financial Group lifted their price objective on shares of National Bank of Canada from C$119.00 to C$126.00 in a research note on Thursday, August 29th. Desjardins boosted their target price 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. Finally, CIBC cut shares of National Bank of Canada from an “outperform” rating to a “neutral” rating in a research report on Friday, September 20th. One investment 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.com, National Bank of Canada presently has an average rating of “Hold” and a consensus price target of C$122.64.

National Bank of Canada Stock Performance

The stock’s 50 day moving average price is C$124.85 and its 200 day moving average price is C$116.84. The company has a market capitalization of C$44.63 billion, a P/E ratio of 12.72, a price-to-earnings-growth ratio of 7.14 and a beta of 1.12.

National Bank of Canada (TSE:NA) last posted its quarterly earnings data on Wednesday, August 28th. The financial services provider reported C$2.68 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of C$2.98 billion for the quarter, compared to analyst estimates of C$2.95 billion. On average, analysts expect that National Bank of Canada will post 10.8360791 earnings per share 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 given a dividend of $1.10 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 3.36%. National Bank of Canada’s payout ratio is presently 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 on Monday, August 19th. The shares were purchased at an average price of C$117.24 per share, for a total transaction of C$38,103.00. 0.21% of the stock is owned by corporate insiders.

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.