National Bank of Canada (TSE:NA) Sets New 12-Month High on Analyst Upgrade

National Bank of Canada (TSE:NA)’s share price hit a new 52-week high during mid-day trading on Wednesday after Scotiabank raised their price target on the stock from C$214.00 to C$222.00. Scotiabank currently has a sector outperform rating on the stock. National Bank of Canada traded as high as C$215.78 and last traded at C$215.10, with a volume of 45275 shares changing hands. The stock had previously closed at C$214.00.

Several other equities research analysts have also issued reports on NA. Desjardins upped their price target on National Bank of Canada from C$215.00 to C$217.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. TD increased their target price on shares of National Bank of Canada from C$182.00 to C$202.00 and gave the stock a “hold” rating in a report on Tuesday, May 5th. Jefferies Financial Group lifted their price target on shares of National Bank of Canada from C$172.00 to C$188.00 in a report on Wednesday, May 20th. TD Securities increased their price objective on shares of National Bank of Canada from C$175.00 to C$182.00 in a research note on Thursday, February 26th. Finally, Canaccord Genuity Group lifted their target price on National Bank of Canada from C$204.00 to C$205.00 and gave the company a “hold” rating in a research note on Friday, June 5th. Three equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, National Bank of Canada has an average rating of “Hold” and an average price target of C$199.50.

National Bank of Canada Price Performance

The company has a market capitalization of C$83.06 billion, a price-to-earnings ratio of 19.09, a price-to-earnings-growth ratio of 7.14 and a beta of 1.40. The business has a fifty day moving average price of C$203.59 and a 200 day moving average price of C$185.21.

National Bank of Canada (TSE:NA) last posted its quarterly earnings data on Wednesday, May 27th. The financial services provider reported C$3.23 earnings per share for the quarter. The business had revenue of C$3.91 billion during the quarter. National Bank of Canada had a net margin of 16.87% and a return on equity of 13.77%. Research analysts anticipate that National Bank of Canada will post 10.8360791 earnings per share for the current year.

National Bank of Canada Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, August 1st. Stockholders of record on Saturday, August 1st will be paid a $1.32 dividend. The ex-dividend date of this dividend is Monday, June 29th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 2.4%. This is an increase from National Bank of Canada’s previous quarterly dividend of $1.24. National Bank of Canada’s dividend payout ratio (DPR) is currently 42.83%.

National Bank of Canada Company Profile

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.