National Bank of Canada (TSE:NA) Sets New 12-Month High – Here’s Why

National Bank of Canada (TSE:NA) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$130.98 and last traded at C$130.85, with a volume of 25343 shares traded. The stock had previously closed at C$130.35.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on NA shares. Royal Bank of Canada raised their target price on National Bank of Canada from C$113.00 to C$116.00 in a report on Thursday, August 29th. Cormark raised their target price on National Bank of Canada from C$122.00 to C$128.00 in a report on Thursday, August 29th. Cibc World Mkts cut National Bank of Canada from a “strong-buy” rating to a “hold” rating in a report on Friday, September 20th. TD Securities raised their target price on National Bank of Canada from C$123.00 to C$129.00 in a report on Thursday, August 29th. Finally, Desjardins lifted their price objective on National Bank of Canada from C$116.00 to C$118.00 and gave the company a “hold” rating in a report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, National Bank of Canada presently has a consensus rating of “Hold” and a consensus target price of C$122.64.

National Bank of Canada Trading Up 0.2 %

The stock has a market cap of C$44.83 billion, a P/E ratio of 12.82, a PEG ratio of 17.04 and a beta of 1.12. The company has a 50 day simple moving average of C$123.75 and a 200 day simple moving average of C$116.49.

National Bank of Canada (TSE:NA) last released its earnings results on Wednesday, August 28th. The financial services provider reported C$2.68 EPS for the quarter, beating the consensus estimate of C$2.50 by C$0.18. The firm had revenue of C$2.98 billion for the quarter, compared to analysts’ expectations of C$2.95 billion. National Bank of Canada had a return on equity of 15.18% and a net margin of 34.50%. As a group, sell-side analysts expect that National Bank of Canada will post 10.8064243 earnings per share for the current year.

National Bank of Canada Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Monday, September 30th will be given a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 3.34%. The ex-dividend date is Friday, September 27th. National Bank of Canada’s dividend payout ratio (DPR) is 42.84%.

Insiders Place Their Bets

In related news, Director Yvon Charest purchased 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, with a total value of C$38,103.00. Insiders own 0.21% 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.