National Bank of Canada (TSE:NA) Shares Pass Above 200 Day Moving Average – Here’s What Happened

National Bank of Canada (TSE:NA)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$152.06 and traded as high as C$176.65. National Bank of Canada shares last traded at C$176.10, with a volume of 878,248 shares traded.

Analyst Ratings Changes

Several brokerages have recently commented on NA. Canaccord Genuity Group raised their price objective on shares of National Bank of Canada from C$160.00 to C$166.00 in a research report on Thursday, December 4th. Jefferies Financial Group reduced their price target on shares of National Bank of Canada from C$153.00 to C$152.00 and set a “hold” rating on the stock in a research report on Tuesday, November 25th. Royal Bank Of Canada boosted their target price on National Bank of Canada from C$149.00 to C$163.00 in a research report on Thursday, December 4th. Barclays raised their price objective on shares of National Bank of Canada from C$147.00 to C$158.00 and gave the stock an “equal weight” rating in a research note on Monday, November 24th. Finally, BMO Capital Markets upped their price target on shares of National Bank of Canada from C$172.00 to C$177.00 in a report on Wednesday, December 17th. Three investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, National Bank of Canada presently has an average rating of “Hold” and a consensus target price of C$165.83.

National Bank of Canada Trading Up 0.4%

The stock has a market cap of C$69.06 billion, a price-to-earnings ratio of 17.49, a PEG ratio of 7.14 and a beta of 1.13. The stock has a 50-day moving average price of C$164.89 and a two-hundred day moving average price of C$152.06.

National Bank of Canada (TSE:NA) last issued its quarterly earnings results on Wednesday, December 3rd. The financial services provider reported C$2.82 earnings per share (EPS) for the quarter. The business had revenue of C$3.70 billion for the quarter. National Bank of Canada had a net margin of 19.69% and a return on equity of 15.43%. Research analysts predict that National Bank of Canada will post 10.8360791 earnings per share for the current fiscal year.

National Bank of Canada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, February 1st. Stockholders of record on Sunday, February 1st will be issued a dividend of $1.24 per share. This is a positive change from National Bank of Canada’s previous quarterly dividend of $1.18. The ex-dividend date of this dividend is Monday, December 29th. This represents a $4.96 annualized dividend and a dividend yield of 2.8%. National Bank of Canada’s payout ratio is presently 46.08%.

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.