National Bank of Canada (TSE:NA) Shares Cross Above Two Hundred Day Moving Average – What’s Next?

Shares of National Bank of Canada (TSE:NA) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$182.68 and traded as high as C$203.54. National Bank of Canada shares last traded at C$203.44, with a volume of 1,327,997 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Barclays lifted their price objective on National Bank of Canada from C$177.00 to C$183.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 26th. TD Securities lifted their price objective on National Bank of Canada from C$175.00 to C$182.00 in a research report on Thursday, February 26th. Canadian Imperial Bank of Commerce lifted their price objective on National Bank of Canada from C$209.00 to C$221.00 and gave the stock a “neutral” rating in a research report on Thursday, May 28th. Desjardins lifted their price objective on National Bank of Canada from C$215.00 to C$217.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. Finally, BMO Capital Markets lifted their price objective on National Bank of Canada from C$177.00 to C$195.00 and gave the stock an “outperform” rating in a research report on Thursday, February 26th. Three analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of C$198.42.

National Bank of Canada Stock Performance

The company has a fifty day simple moving average of C$199.23 and a two-hundred day simple moving average of C$182.68. The company has a market capitalization of C$78.35 billion, a price-to-earnings ratio of 18.00, a P/E/G ratio of 7.14 and a beta of 1.30.

National Bank of Canada (TSE:NA) last issued its quarterly earnings results on Wednesday, May 27th. The financial services provider reported C$3.23 earnings per share for the quarter. The company had revenue of C$3.91 billion during the quarter. National Bank of Canada had a return on equity of 13.77% and a net margin of 16.87%. As a group, analysts expect that National Bank of Canada will post 10.8360791 EPS for the current year.

National Bank of Canada Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 1st. Shareholders of record on Friday, May 1st were issued a $1.24 dividend. The ex-dividend date was Monday, March 30th. This represents a $4.96 annualized dividend and a yield of 2.4%. National Bank of Canada’s payout ratio is 42.83%.

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.