National Bank of Canada (TSE:NA) Shares Cross Above 200-Day Moving Average of $67.06
National Bank of Canada (TSE:NA) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $67.06 and traded as high as $73.54. National Bank of Canada shares last traded at $73.49, with a volume of 986,335 shares trading hands.
A number of research firms have recently issued reports on NA. Royal Bank of Canada increased their price objective on shares of National Bank of Canada from C$69.00 to C$75.00 and gave the company an “outperform” rating in a research note on Thursday, December 5th. TD Securities raised their price target on shares of National Bank of Canada from C$67.00 to C$69.00 and gave the stock a “hold” rating in a report on Thursday, December 5th. Desjardins raised their price target on shares of National Bank of Canada from C$64.00 to C$68.00 and gave the stock a “hold” rating in a report on Tuesday, November 5th. Canaccord Genuity raised their price target on shares of National Bank of Canada from C$68.50 to C$72.50 in a report on Thursday, December 5th. Finally, CIBC raised their price target on shares of National Bank of Canada from C$67.00 to C$73.00 in a report on Thursday, November 21st. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of C$69.25.
The company’s fifty day moving average is C$72.37 and its 200-day moving average is C$67.11. The stock has a market cap of $24.57 billion and a PE ratio of 11.59.
The firm also recently announced a quarterly dividend, which will be paid on Saturday, February 1st. Investors of record on Monday, December 30th will be issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 3.86%. The ex-dividend date of this dividend is Friday, December 27th. This is a boost from National Bank of Canada’s previous quarterly dividend of $0.68. National Bank of Canada’s dividend payout ratio (DPR) is 41.96%.
In related news, Director Brian A. Davis sold 63,000 shares of the firm’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of C$72.35, for a total transaction of C$4,557,911.40. Also, Senior Officer William Bonnell sold 20,000 shares of the firm’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of C$71.84, for a total transaction of C$1,436,818.00. Following the sale, the insider now owns 5,636 shares in the company, valued at approximately C$404,895.31. In the last three months, insiders have sold 90,792 shares of company stock valued at $6,557,500.
National Bank of Canada Company Profile (TSE:NA)
National Bank of Canada provides various financial products and services to retail, commercial, corporate, and institutional clients in Canada and internationally. It operates through Personal and Commercial, Wealth Management, Financial Markets, and U.S. Specialty Finance and International segments.
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