National Bank of Canada (TSE:NA) Shares Cross Above 200 Day Moving Average of $109.49

National Bank of Canada (TSE:NA) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$109.49 and traded as high as C$113.34. National Bank of Canada shares last traded at C$113.13, with a volume of 1,103,451 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on NA. BMO Capital Markets lowered 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. TD Securities lifted their price objective on shares of National Bank of Canada from C$118.00 to C$121.00 in a report on Friday, May 10th. UBS Group set a C$123.00 price objective on shares of National Bank of Canada and gave the company a “buy” rating in a report on Tuesday, July 2nd. Cormark boosted their target price on shares of National Bank of Canada from C$119.00 to C$120.00 in a report on Thursday, May 30th. Finally, Royal Bank of Canada boosted their target price on shares of National Bank of Canada from C$109.00 to C$113.00 and gave the stock a “sector perform” rating in a report on Thursday, May 30th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of C$114.62.

National Bank of Canada Price Performance

The stock’s 50-day moving average price is C$112.16 and its 200-day moving average price is C$109.60. The company has a market cap of C$38.74 billion, a P/E ratio of 12.00, 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 business had revenue of C$2.84 billion during the quarter, compared to analysts’ expectations of C$2.89 billion. As a group, analysts expect that National Bank of Canada will post 9.8686007 EPS for the current fiscal year.

National Bank of Canada Increases Dividend

The firm also recently announced 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 is an increase from National Bank of Canada’s previous quarterly dividend of $1.06. The ex-dividend date of this dividend is Monday, June 24th. This represents a $4.40 annualized dividend and a yield of 3.86%. National Bank of Canada’s payout ratio is presently 44.63%.

Insiders Place Their Bets

In other National Bank of Canada news, Senior Officer Lucie Blanchet sold 8,800 shares of the business’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of C$107.59, for a total transaction of C$946,792.00. In other news, Senior Officer Lucie Blanchet sold 8,800 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The stock was 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 stock in a transaction dated Tuesday, May 21st. The stock was purchased at an average cost of C$116.20 per share, with a total value of C$37,648.80. Insiders own 0.20% of the company’s stock.

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.