National Bank of Canada (TSE:NA) Hits New 12-Month High – What’s Next?

National Bank of Canada (TSE:NA)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as C$171.55 and last traded at C$170.18, with a volume of 258128 shares changing hands. The stock had previously closed at C$168.11.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Scotiabank increased their price objective on National Bank of Canada from C$166.00 to C$184.00 and gave the stock an “outperform” rating in a report on Thursday. Desjardins lifted their price objective on shares of National Bank of Canada from C$167.00 to C$175.00 and gave the company a “buy” rating in a research note on Thursday. Canaccord Genuity Group upped their price target on National Bank of Canada from C$160.00 to C$166.00 in a research note on Thursday. CIBC upped their price objective on shares of National Bank of Canada from C$166.00 to C$174.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, TD Securities upped their price target on shares of National Bank of Canada from C$161.00 to C$181.00 and gave the company a “hold” rating in a report on Thursday. Three investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of C$160.00.

National Bank of Canada Stock Up 2.3%

The stock’s 50-day simple moving average is C$156.89 and its 200 day simple moving average is C$147.20. The stock has a market capitalization of C$67.57 billion, a price-to-earnings ratio of 16.98, a price-to-earnings-growth ratio of 7.14 and a beta of 1.08.

National Bank of Canada (TSE:NA) last released its quarterly earnings results on Wednesday, December 3rd. The financial services provider reported C$2.82 earnings per share (EPS) for the quarter. National Bank of Canada had a return on equity of 15.43% and a net margin of 19.69%.The business had revenue of C$3.70 billion during the quarter. As a group, equities research analysts anticipate that National Bank of Canada will post 10.8360791 earnings per share for the current year.

About National Bank of Canada

National Bank of Canada is the sixth-largest Canadian bank. The bank offers integrated financial services, primarily in the province of Quebec as well as the city of Toronto. Operational segments include personal and commercial banking, wealth management, and a financial markets group.