National Bank of Canada (TSE:NA) Reaches New 12-Month High – Here’s What Happened

National Bank of Canada (TSE:NA) shares hit a new 52-week high during trading on Monday . The company traded as high as C$132.92 and last traded at C$132.87, with a volume of 117891 shares. The stock had previously closed at C$131.67.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on NA. BMO Capital Markets raised their target price on National Bank of Canada from C$115.00 to C$125.00 in a report on Thursday, August 29th. Jefferies Financial Group lifted their price objective on shares of National Bank of Canada from C$119.00 to C$126.00 in a report on Thursday, August 29th. TD Securities increased their target price on shares of National Bank of Canada from C$123.00 to C$129.00 in a report on Thursday, August 29th. Scotiabank upped their price objective on shares of National Bank of Canada from C$120.00 to C$129.00 in a research report on Thursday, August 29th. Finally, Canaccord Genuity Group lifted their target price on shares of National Bank of Canada from C$113.00 to C$123.00 in a research report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of C$122.64.

National Bank of Canada Trading Up 0.3 %

The company has a market cap of C$45.40 billion, a PE ratio of 12.99, a price-to-earnings-growth ratio of 7.14 and a beta of 1.12. The firm has a fifty day moving average of C$126.57 and a two-hundred day moving average of C$117.51.

National Bank of Canada (TSE:NA) last released its quarterly earnings data on Wednesday, August 28th. The financial services provider reported C$2.68 EPS for the quarter, topping the consensus estimate of C$2.50 by C$0.18. National Bank of Canada had a net margin of 34.50% and a return on equity of 15.18%. The company had revenue of C$2.98 billion during the quarter, compared to the consensus estimate of C$2.95 billion. 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 business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Monday, September 30th will be issued a dividend of $1.10 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $4.40 dividend on an annualized basis and a yield of 3.30%. National Bank of Canada’s dividend payout ratio (DPR) is 42.84%.

Insiders Place Their Bets

In other news, Director Yvon Charest acquired 325 shares of National Bank of Canada stock in a transaction that occurred on Monday, August 19th. The stock was bought at an average price of C$117.24 per share, with a total value of C$38,103.00. 0.21% of the stock is owned by corporate 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.