National Bank of Canada (TSE:NA) Hits New 1-Year High – What’s Next?

Shares of National Bank of Canada (TSE:NA) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$214.78 and last traded at C$213.38, with a volume of 677284 shares trading hands. The stock had previously closed at C$211.73.

Wall Street Analyst Weigh In

NA has been the topic of several analyst reports. National Bank Financial upped their price objective on National Bank of Canada from C$183.00 to C$196.00 in a research report on Thursday, March 5th. Canadian Imperial Bank of Commerce upped their price objective on National Bank of Canada from C$196.00 to C$209.00 and gave the company a “neutral” rating in a research report on Thursday, May 14th. TD Securities upped their price objective on National Bank of Canada from C$175.00 to C$182.00 in a research report on Thursday, February 26th. Scotiabank upped their price objective on National Bank of Canada from C$202.00 to C$214.00 and gave the company a “sector outperform” rating in a research report on Monday, May 4th. Finally, Jefferies Financial Group upped their price objective on National Bank of Canada from C$172.00 to C$188.00 in a research report on Wednesday, May 20th. Three investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of C$197.54.

National Bank of Canada Stock Performance

The firm has a fifty day moving average price of C$195.58 and a two-hundred day moving average price of C$180.26. The stock has a market capitalization of C$82.60 billion, a P/E ratio of 20.58, a PEG ratio of 7.14 and a beta of 1.30.

National Bank of Canada (TSE:NA) last released its quarterly earnings results on Wednesday, February 25th. The financial services provider reported C$3.25 earnings per share for the quarter. The firm had revenue of C$3.89 billion for the quarter. National Bank of Canada had a return on equity of 12.83% and a net margin of 15.85%. On average, research analysts anticipate that National Bank of Canada will post 10.8360791 earnings per share for the current fiscal year.

National Bank of Canada Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 1st. Stockholders of record on Friday, May 1st were issued a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Monday, March 30th. National Bank of Canada’s dividend payout ratio is presently 45.71%.

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.