National Bank of Canada (TSE:NA) Sets New 1-Year High on Analyst Upgrade

Shares of National Bank of Canada (TSE:NA) reached a new 52-week high during mid-day trading on Wednesday after Canaccord Genuity Group raised their price target on the stock from C$190.00 to C$200.00. Canaccord Genuity Group currently has a hold rating on the stock. National Bank of Canada traded as high as C$209.92 and last traded at C$209.62, with a volume of 209075 shares trading hands. The stock had previously closed at C$207.04.

Several other equities analysts have also recently issued reports on NA. 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. 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. Raymond James Financial upped their price objective on National Bank of Canada from C$200.00 to C$206.50 and gave the company a “market perform” rating in a research report on Wednesday, May 13th. BMO Capital Markets upped their price objective on National Bank of Canada from C$177.00 to C$195.00 and gave the company an “outperform” rating in a research report on Thursday, February 26th. Finally, Desjardins upped their price objective on National Bank of Canada from C$200.00 to C$215.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th. Three equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of C$197.54.

National Bank of Canada Trading Up 1.0%

The stock has a market capitalization of C$80.96 billion, a PE ratio of 20.17, a P/E/G ratio of 7.14 and a beta of 1.30. The stock has a 50 day moving average price of C$193.36 and a 200-day moving average price of C$178.72.

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 (EPS) 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%. Research analysts forecast that National Bank of Canada will post 10.8360791 earnings per share for the current 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 paid a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Monday, March 30th. National Bank of Canada’s dividend payout ratio (DPR) 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.