National Bank of Canada (TSE:NA) Reaches New 52-Week High at $109.20

National Bank of Canada (TSE:NA) shares reached a new 52-week high during mid-day trading on Thursday . The company traded as high as C$109.20 and last traded at C$109.12, with a volume of 275633 shares changing hands. The stock had previously closed at C$108.40.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on NA shares. Veritas Investment Research reiterated a “reduce” rating on shares of National Bank of Canada in a research note on Thursday, February 29th. TD Securities raised their price target on National Bank of Canada from C$118.00 to C$121.00 in a research note on Friday, May 10th. Royal Bank of Canada raised their target price on shares of National Bank of Canada from C$109.00 to C$113.00 and gave the company a “sector perform” rating in a research report on Thursday, May 30th. CIBC boosted their price objective on shares of National Bank of Canada from C$109.00 to C$124.00 and gave the stock an “outperform” rating in a research note on Thursday, May 30th. Finally, Desjardins raised their price objective on National Bank of Canada from C$116.00 to C$119.00 and gave the stock a “hold” rating in a research report on Thursday, May 30th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of C$113.92.

National Bank of Canada Trading Up 0.5 %

The business has a fifty day moving average of C$112.91 and a two-hundred day moving average of C$107.81. The company has a market cap of C$37.01 billion, a price-to-earnings ratio of 11.49, a PEG ratio of 17.04 and a beta of 1.12.

National Bank of Canada (TSE:NA) last announced its earnings results on Wednesday, May 29th. The financial services provider reported C$2.54 earnings per share for the quarter, topping the consensus estimate of C$2.43 by C$0.11. National Bank of Canada had a return on equity of 14.73% and a net margin of 34.22%. The business had revenue of C$2.84 billion during the quarter, compared to the consensus estimate of C$2.89 billion. On average, research analysts forecast that National Bank of Canada will post 9.8686007 EPS for the current fiscal year.

National Bank of Canada Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Monday, June 24th will be issued a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 4.04%. This is an increase from National Bank of Canada’s previous quarterly dividend of $1.06. The ex-dividend date of this dividend is Monday, June 24th. National Bank of Canada’s dividend payout ratio (DPR) is presently 44.63%.

Insider Transactions at National Bank of Canada

In other National Bank of Canada news, Senior Officer Lucie Blanchet sold 8,800 shares of the business’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of C$107.59, for a total value of C$946,792.00. In other news, Senior Officer Lucie Blanchet sold 8,800 shares of the company’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of C$107.59, for a total value of C$946,792.00. Also, Director Yvon Charest acquired 324 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The shares were acquired at an average cost of C$116.20 per share, with a total value of C$37,648.80. Corporate insiders own 0.20% of the company’s stock.

About National Bank of Canada

National Bank of Canada provides financial services to individuals, businesses, institutional clients, and governments in Canada and internationally. It operates through four segments: Personal and Commercial, Wealth Management, Financial Markets, and U.S. Specialty Finance and International. The Personal and Commercial segment offers personal banking services, including transaction solutions, mortgage loans and home equity lines of credit, consumer loans, payment solutions, and savings and investment solutions; various insurance products; and commercial banking services, such as credit, and deposit, investment solutions, international trade, foreign exchange transactions, payroll, cash management, insurance, electronic transactions, and complimentary services.