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

National Bank of Canada (TSE:NA) hit a new 52-week high during trading on Tuesday . The stock traded as high as C$225.53 and last traded at C$224.12, with a volume of 377062 shares trading hands. The stock had previously closed at C$223.10.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on NA. Scotiabank lifted their price target on National Bank of Canada from C$214.00 to C$222.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, June 16th. TD upped their target price on National Bank of Canada from C$182.00 to C$202.00 and gave the company a “hold” rating in a report on Tuesday, May 5th. BMO Capital Markets upped their price target on shares of National Bank of Canada from C$177.00 to C$195.00 and gave the stock an “outperform” rating in a research note on Thursday, February 26th. National Bank Financial boosted their target price on National Bank of Canada from C$183.00 to C$196.00 in a research note on Thursday, March 5th. Finally, Canadian Imperial Bank of Commerce upped their target price on National Bank of Canada from C$209.00 to C$221.00 and gave the stock a “neutral” rating in a research report on Thursday, May 28th. Three equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of C$199.50.

National Bank of Canada Price Performance

The stock has a market capitalization of C$86.24 billion, a price-to-earnings ratio of 19.82, a PEG ratio of 7.14 and a beta of 1.40. The stock’s 50 day simple moving average is C$206.10 and its 200-day simple moving average is C$186.66.

National Bank of Canada (TSE:NA) last posted its earnings results on Wednesday, May 27th. The financial services provider reported C$3.23 EPS for the quarter. National Bank of Canada had a net margin of 16.87% and a return on equity of 13.77%. The company had revenue of C$3.91 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 fiscal year.

National Bank of Canada Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, August 1st. Investors of record on Saturday, August 1st will be issued a $1.32 dividend. This is a boost from National Bank of Canada’s previous quarterly dividend of $1.24. This represents a $5.28 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Monday, June 29th. National Bank of Canada’s dividend payout ratio is currently 42.83%.

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.