National Bank of Canada (TSE:NA) Announces Dividend Increase – $1.32 Per Share

National Bank of Canada (TSE:NA) declared a quarterly dividend on Monday, June 29th, TickerTech Dividends reports. Stockholders of record on Saturday, August 1st will be given a dividend of 1.32 per share by the financial services provider on Saturday, August 1st. This represents a c) annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Monday, June 29th. This is a 6.5% increase from National Bank of Canada’s previous quarterly dividend of $1.24.

National Bank of Canada Stock Performance

TSE:NA opened at C$222.03 on Friday. The company has a market cap of C$85.51 billion, a PE ratio of 19.65, a PEG ratio of 7.14 and a beta of 1.40. National Bank of Canada has a 52-week low of C$138.47 and a 52-week high of C$226.19. The stock has a 50-day simple moving average of C$208.12 and a 200 day simple moving average of C$188.04.

National Bank of Canada (TSE:NA) last announced its earnings results on Wednesday, May 27th. The financial services provider reported C$3.23 earnings per share (EPS) for the quarter. The business had revenue of C$3.91 billion for the quarter. National Bank of Canada had a return on equity of 13.77% and a net margin of 16.87%. On average, research analysts predict that National Bank of Canada will post 10.8360791 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. TD raised their price target on shares of National Bank of Canada from C$182.00 to C$202.00 and gave the stock a “hold” rating in a research note on Tuesday, May 5th. Jefferies Financial Group boosted their price objective on shares of National Bank of Canada from C$172.00 to C$188.00 in a research report on Wednesday, May 20th. Raymond James Financial reduced their target price on shares of National Bank of Canada from C$206.50 to C$203.00 and set a “market perform” rating for the company in a report on Thursday, May 28th. Desjardins raised their target price on shares of 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. Finally, Royal Bank Of Canada lowered their price target on shares of National Bank of Canada from C$193.00 to C$180.00 and set a “sector perform” rating on the stock in a research note on Wednesday, March 25th. Three research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of C$199.50.

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.