National Bank of Canada (TSE:NA) Hits New 52-Week High – Here’s What Happened

Shares of National Bank of Canada (TSE:NA) hit a new 52-week high on Tuesday . The stock traded as high as C$214.78 and last traded at C$213.38, with a volume of 677284 shares trading hands. The stock had previously closed at C$211.73.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on NA shares. National Bank Financial upped their target price on shares of National Bank of Canada from C$183.00 to C$196.00 in a research note on Thursday, March 5th. Canaccord Genuity Group upped their target price on shares of National Bank of Canada from C$190.00 to C$200.00 and gave the company a “hold” rating in a research note on Wednesday, May 20th. TD Securities upped their target price on shares of National Bank of Canada from C$175.00 to C$182.00 in a research note on Thursday, February 26th. Jefferies Financial Group upped their target price on shares of National Bank of Canada from C$172.00 to C$188.00 in a research note on Wednesday, May 20th. Finally, Royal Bank Of Canada decreased their target price on shares of National Bank of Canada from C$193.00 to C$180.00 and set a “sector perform” rating for the company in a research note on Wednesday, March 25th. Three investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of C$197.54.

National Bank of Canada Trading Down 4.0%

The stock has a market capitalization of C$78.93 billion, a P/E ratio of 19.66, a P/E/G ratio of 7.14 and a beta of 1.30. The stock’s 50 day simple moving average is C$196.64 and its 200 day simple moving average is C$180.97.

National Bank of Canada (TSE:NA) last issued its earnings results on Wednesday, May 27th. The financial services provider reported C$3.23 earnings per share for the quarter. The company had revenue of C$3.91 billion for the quarter. National Bank of Canada had a net margin of 15.85% and a return on equity of 12.83%. On average, sell-side analysts expect that National Bank of Canada will post 10.8360791 EPS for the current fiscal year.

National Bank of Canada Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 1st. Shareholders of record on Friday, May 1st were issued a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Monday, March 30th. National Bank of Canada’s dividend payout ratio is 45.71%.

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.