National Bank of Canada (TSE:NA) Reaches New 52-Week High – Here’s What Happened

Shares of National Bank of Canada (TSE:NA) reached a new 52-week high on Thursday . The stock traded as high as C$190.09 and last traded at C$189.23, with a volume of 2457924 shares trading hands. The stock had previously closed at C$177.46.

Analyst Ratings Changes

NA has been the topic of several recent research reports. Royal Bank Of Canada increased their target price on shares of National Bank of Canada from C$149.00 to C$163.00 in a report on Thursday, December 4th. Raymond James Financial increased their price objective on shares of National Bank of Canada from C$173.00 to C$179.00 and gave the company a “market perform” rating in a research note on Tuesday, February 17th. Jefferies Financial Group lifted their price objective on shares of National Bank of Canada from C$156.00 to C$165.00 in a report on Wednesday, February 11th. TD Securities reduced their price objective on shares of National Bank of Canada from C$181.00 to C$175.00 in a research note on Monday, February 9th. Finally, BMO Capital Markets boosted their price target on National Bank of Canada from C$172.00 to C$177.00 in a research report on Wednesday, December 17th. Four investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of C$171.00.

National Bank of Canada Price Performance

The firm has a market capitalization of C$73.86 billion, a price-to-earnings ratio of 18.79, a PEG ratio of 7.14 and a beta of 1.05. The stock has a 50 day moving average price of C$171.87 and a two-hundred day moving average price of C$161.33.

National Bank of Canada (TSE:NA) last released 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 15.43% and a net margin of 19.69%.The company had revenue of C$3.89 billion during the quarter. As a group, research analysts expect that National Bank of Canada will post 10.8360791 earnings per share for the current fiscal year.

National Bank of Canada Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, February 1st. Shareholders of record on Sunday, February 1st were paid a $1.24 dividend. This represents a $4.96 annualized dividend and a dividend yield of 2.6%. This is a positive change from National Bank of Canada’s previous quarterly dividend of $1.18. The ex-dividend date was Monday, December 29th. National Bank of Canada’s payout ratio is presently 46.08%.

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.