Royal Bank of Canada Issues Positive Forecast for National Bank of Canada (TSE:NA) Stock Price

National Bank of Canada (TSE:NA) had its price objective hoisted by Royal Bank of Canada from C$134.00 to C$145.00 in a research report released on Wednesday morning,BayStreet.CA reports. The firm currently has a sector perform rating on the financial services provider’s stock.

A number of other research analysts have also commented on NA. Scotiabank lifted their price objective on shares of National Bank of Canada from C$129.00 to C$154.00 in a research note on Monday, November 25th. BMO Capital Markets boosted their price target on National Bank of Canada from C$125.00 to C$143.00 in a research report on Monday, November 18th. CIBC increased their price objective on National Bank of Canada from C$135.00 to C$141.00 in a research report on Tuesday, November 26th. TD Securities lowered their target price on National Bank of Canada from C$140.00 to C$138.00 in a research note on Thursday, December 5th. Finally, Cibc World Mkts cut National Bank of Canada from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 20th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of C$137.20.

National Bank of Canada Stock Performance

NA opened at C$132.27 on Wednesday. The stock has a market capitalization of C$45.02 billion, a P/E ratio of 12.88, a price-to-earnings-growth ratio of 7.14 and a beta of 1.12. National Bank of Canada has a one year low of C$98.04 and a one year high of C$141.15. The business’s 50-day simple moving average is C$134.00 and its 200-day simple moving average is C$124.58.

National Bank of Canada Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, February 1st. Stockholders of record on Monday, December 30th will be issued a $1.14 dividend. This represents a $4.56 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date is Monday, December 30th. This is an increase from National Bank of Canada’s previous quarterly dividend of $1.10. National Bank of Canada’s dividend payout ratio (DPR) is currently 42.84%.

Insider Buying and Selling

In other news, Director Yvon Charest acquired 285 shares of National Bank of Canada stock in a transaction that occurred on Tuesday, November 19th. The shares were acquired at an average price of C$133.71 per share, with a total value of C$38,107.35. Also, insider Marie-Chantal Gingras sold 600 shares of the firm’s stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of C$132.79, for a total value of C$79,674.00. 0.21% of the stock is owned by insiders.

National Bank of Canada Company Profile

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.