National Bank of Canada (TSE:NA) Reaches New 12-Month High at $109.76

National Bank of Canada (TSE:NA) shares hit a new 52-week high 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.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on NA shares. BMO Capital Markets cut their price objective on shares of National Bank of Canada from C$121.00 to C$115.00 and set an “outperform” rating on the stock in a report on Tuesday, June 18th. Royal Bank of Canada boosted their price target on National Bank of Canada from C$109.00 to C$113.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 30th. CIBC upped their price objective on National Bank of Canada from C$109.00 to C$124.00 and gave the stock an “outperform” rating in a research note on Thursday, May 30th. Scotiabank cut their target price on National Bank of Canada from C$119.00 to C$116.00 and set a “hold” rating on the stock in a research note on Tuesday, June 18th. Finally, Cormark increased their price target on shares of National Bank of Canada from C$119.00 to C$120.00 in a research report on Thursday, May 30th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, National Bank of Canada has an average rating of “Hold” and an average price target of C$114.62.

National Bank of Canada Price Performance

The stock’s fifty day simple moving average is C$112.65 and its 200-day simple moving average is C$108.26. The firm has a market cap of C$37.56 billion, a PE ratio of 11.63, a PEG ratio of 17.04 and a beta of 1.12.

National Bank of Canada (TSE:NA) last issued its quarterly earnings results on Wednesday, May 29th. The financial services provider reported C$2.54 EPS for the quarter, topping analysts’ consensus estimates of C$2.43 by C$0.11. The company had revenue of C$2.84 billion during the quarter, compared to analysts’ expectations of C$2.89 billion. National Bank of Canada had a return on equity of 14.73% and a net margin of 34.22%. 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 firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Monday, June 24th will be paid a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 3.98%. This is a boost from National Bank of Canada’s previous quarterly dividend of $1.06. The ex-dividend date is Monday, June 24th. National Bank of Canada’s payout ratio is presently 44.63%.

Insider Activity at National Bank of Canada

In related news, Director Yvon Charest bought 324 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The shares were purchased at an average cost of C$116.20 per share, with a total value of C$37,648.80. In other news, Senior Officer Lucie Blanchet sold 8,800 shares of the stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of C$107.59, for a total transaction of C$946,792.00. Also, Director Yvon Charest bought 324 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were acquired at an average price of C$116.20 per share, for a total transaction of C$37,648.80. 0.20% of the stock is currently owned by 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.