National Bank of Canada (TSE:NA) Hits New 12-Month High at $109.20

National Bank of Canada (TSE:NA)’s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$109.20 and last traded at C$109.12, with a volume of 275633 shares changing hands. The stock had previously closed at C$108.40.

Analyst Upgrades and Downgrades

A number of research firms recently commented on NA. Scotiabank dropped their price objective on National Bank of Canada from C$119.00 to C$116.00 and set a “hold” rating on the stock in a report on Tuesday, June 18th. Desjardins raised their price target on shares of National Bank of Canada from C$116.00 to C$119.00 and gave the company a “hold” rating in a report on Thursday, May 30th. CIBC upped their price objective on shares of National Bank of Canada from C$109.00 to C$124.00 and gave the stock an “outperform” rating in a report on Thursday, May 30th. Jefferies Financial Group cut their target price on National Bank of Canada from C$123.00 to C$121.00 and set a “hold” rating on the stock in a report on Thursday, June 6th. Finally, TD Securities boosted their price target on National Bank of Canada from C$118.00 to C$121.00 in a research report on Friday, May 10th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of C$113.92.

National Bank of Canada Stock Up 0.5 %

The business has a 50-day simple moving average of C$112.91 and a two-hundred day simple moving average of C$107.81. The stock has a market capitalization of C$37.01 billion, a P/E ratio of 11.49, a PEG ratio of 17.04 and a beta of 1.12.

National Bank of Canada (TSE:NA) last posted its quarterly earnings data on Wednesday, May 29th. The financial services provider reported C$2.54 earnings per share for the quarter, topping the consensus estimate of C$2.43 by C$0.11. National Bank of Canada had a net margin of 34.22% and a return on equity of 14.73%. The company had revenue of C$2.84 billion during the quarter, compared to analyst estimates of C$2.89 billion. On average, sell-side analysts forecast that National Bank of Canada will post 9.8686007 earnings per share for the current year.

National Bank of Canada Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Monday, June 24th will be given a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 4.04%. The ex-dividend date of this dividend is Monday, June 24th. This is a boost from National Bank of Canada’s previous quarterly dividend of $1.06. National Bank of Canada’s dividend payout ratio (DPR) is presently 44.63%.

Insider Activity

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