National Bank of Canada (TSE:NA) Announces Quarterly Dividend of $1.10

National Bank of Canada (TSE:NA) declared a quarterly dividend on Wednesday, August 28th, RTT News reports. Stockholders of record on Monday, September 30th will be given a dividend of 1.10 per share by the financial services provider on Friday, November 1st. This represents a $4.40 annualized dividend and a dividend yield of 3.47%.

National Bank of Canada Stock Up 5.7 %

NA traded up C$6.86 during trading on Wednesday, reaching C$126.75. The stock had a trading volume of 1,463,138 shares, compared to its average volume of 1,711,806. National Bank of Canada has a 1-year low of C$84.27 and a 1-year high of C$126.97. The firm has a market capitalization of C$44.23 billion, a price-to-earnings ratio of 13.06, a price-to-earnings-growth ratio of 17.04 and a beta of 1.13. The stock has a 50 day moving average of C$112.72 and a two-hundred day moving average of C$111.83.

National Bank of Canada (TSE:NA) last issued its earnings results on Wednesday, May 29th. The financial services provider reported C$2.54 earnings per share for the quarter, topping analysts’ consensus estimates of C$2.43 by C$0.11. National Bank of Canada had a net margin of 34.10% and a return on equity of 14.72%. The firm had revenue of C$2.84 billion during the quarter, compared to analysts’ expectations of C$2.89 billion. On average, research analysts forecast that National Bank of Canada will post 10.5085049 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Scotiabank cut their target price on shares of National Bank of Canada from C$123.00 to C$120.00 in a research note on Monday, August 19th. Royal Bank of Canada raised their price objective on National Bank of Canada from C$109.00 to C$113.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 30th. Desjardins upped their target price on National Bank of Canada from C$116.00 to C$118.00 and gave the company a “hold” rating in a report on Tuesday, August 6th. CIBC decreased their price target on shares of National Bank of Canada from C$124.00 to C$122.00 and set an “outperform” rating for the company in a report on Tuesday, August 20th. Finally, Canaccord Genuity Group boosted their price objective on shares of National Bank of Canada from C$109.00 to C$117.00 and gave the company a “hold” rating in a research report on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, National Bank of Canada currently has a consensus rating of “Hold” and a consensus price target of C$116.42.

Insiders Place Their Bets

In other news, Director Yvon Charest bought 325 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were bought at an average cost of C$117.24 per share, with a total value of C$38,103.00. In other National Bank of Canada news, Senior Officer Lucie Blanchet sold 8,800 shares of the firm’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of C$107.59, for a total transaction of C$946,792.00. Also, Director Yvon Charest acquired 325 shares of National Bank of Canada stock in a transaction on Monday, August 19th. The shares were bought at an average cost of C$117.24 per share, with a total value of C$38,103.00. Insiders own 0.21% of the company’s stock.

National Bank of Canada Company Profile

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.