National Bank of Canada (TSE:NA) Sets New 1-Year High – Here’s What Happened

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

Analyst Upgrades and Downgrades

NA has been the subject of a number of analyst reports. Royal Bank of Canada lifted their price objective on shares of National Bank of Canada from C$113.00 to C$116.00 in a research report on Thursday, August 29th. CIBC cut National Bank of Canada from an “outperform” rating to a “neutral” rating in a report on Friday, September 20th. Desjardins upped their price objective on National Bank of Canada from C$116.00 to C$118.00 and gave the company a “hold” rating in a research note on Tuesday, August 6th. Cibc World Mkts downgraded National Bank of Canada from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 20th. Finally, Canaccord Genuity Group increased their price target on National Bank of Canada from C$113.00 to C$123.00 in a research note on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of C$122.64.

National Bank of Canada Price Performance

The business’s 50-day moving average is C$125.87 and its 200 day moving average is C$117.29. The firm has a market capitalization of C$45.25 billion, a P/E ratio of 12.93, a price-to-earnings-growth ratio of 7.14 and a beta of 1.12.

National Bank of Canada (TSE:NA) last announced its earnings results 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 for the quarter, compared to analysts’ expectations of C$2.95 billion. Analysts anticipate that National Bank of Canada will post 10.8360791 EPS for the current fiscal year.

National Bank of Canada Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Monday, September 30th will be issued a $1.10 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $4.40 annualized dividend and a yield of 3.31%. National Bank of Canada’s dividend payout ratio is presently 42.84%.

Insider Activity

In other news, Director Yvon Charest bought 325 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were purchased at an average cost of C$117.24 per share, with a total value of C$38,103.00. Corporate insiders own 0.21% of the company’s stock.

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.