National Bank of Canada (TSE:NA) Reaches New 12-Month High – Still a Buy?

National Bank of Canada (TSE:NA)’s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$204.18 and last traded at C$204.28, with a volume of 266975 shares changing hands. The stock had previously closed at C$201.17.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on NA shares. Jefferies Financial Group lifted their price target on National Bank of Canada from C$165.00 to C$172.00 in a report on Thursday, February 26th. National Bank Financial lifted their price target on National Bank of Canada from C$183.00 to C$196.00 in a report on Thursday, March 5th. Canaccord Genuity Group reduced their price target on National Bank of Canada from C$191.00 to C$190.00 and set a “hold” rating for the company in a report on Monday, March 9th. Royal Bank Of Canada reduced their price objective on shares of National Bank of Canada from C$193.00 to C$180.00 and set a “sector perform” rating for the company in a research note on Wednesday, March 25th. Finally, Canadian Imperial Bank of Commerce lifted their price objective on shares of National Bank of Canada from C$189.00 to C$193.00 in a research note on Thursday, February 26th. Four analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, National Bank of Canada presently has an average rating of “Hold” and a consensus target price of C$190.27.

National Bank of Canada Trading Up 1.9%

The company has a fifty day moving average of C$188.59 and a two-hundred day moving average of C$174.08. The stock has a market capitalization of C$79.37 billion, a price-to-earnings ratio of 19.77, a price-to-earnings-growth ratio of 7.14 and a beta of 1.23.

National Bank of Canada (TSE:NA) last posted its earnings results on Wednesday, February 25th. The financial services provider reported C$3.25 earnings per share for the quarter. National Bank of Canada had a return on equity of 12.83% and a net margin of 15.85%.The firm had revenue of C$3.89 billion during the quarter. As a group, sell-side analysts predict that National Bank of Canada will post 10.8360791 earnings per share for the current fiscal year.

National Bank of Canada Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 1st. Investors of record on Friday, May 1st will be issued a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 2.4%. The ex-dividend date is Monday, March 30th. National Bank of Canada’s payout ratio is 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.