National Bank of Canada (TSE:NA) Reaches New 1-Year High Following Dividend Announcement

National Bank of Canada (TSE:NAGet Free Report) shares reached a new 52-week high on Thursday after the company announced a dividend. The stock traded as high as C$116.75 and last traded at C$115.62, with a volume of 371942 shares. The stock had previously closed at C$115.89.

The newly announced dividend which will be paid on Thursday, August 1st. Stockholders of record on Monday, June 24th will be given a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 3.79%. The ex-dividend date is Monday, June 24th. This is a positive change from National Bank of Canada’s previous quarterly dividend of $1.06. National Bank of Canada’s payout ratio is currently 44.63%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on NA shares. Royal Bank of Canada lifted their price target on National Bank of Canada from C$109.00 to C$113.00 and gave the stock a “sector perform” rating in a research report on Thursday. TD Securities raised their target price on shares of National Bank of Canada from C$118.00 to C$121.00 in a report on Friday, May 10th. Desjardins increased their price target on National Bank of Canada from C$116.00 to C$119.00 and gave the company a “hold” rating in a report on Thursday. Jefferies Financial Group lifted their price objective on National Bank of Canada from C$121.00 to C$123.00 and gave the stock a “hold” rating in a report on Thursday. Finally, Canaccord Genuity Group increased their target price on National Bank of Canada from C$109.00 to C$117.00 and gave the company a “hold” rating in a report on Thursday. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of C$115.17.

Check Out Our Latest Stock Report on National Bank of Canada

National Bank of Canada Stock Performance

The firm has a fifty day simple moving average of C$113.37 and a two-hundred day simple moving average of C$105.00. The firm has a market cap of C$39.43 billion, a PE ratio of 12.21, a PEG ratio of 17.04 and a beta of 1.12.

National Bank of Canada (TSE:NAGet Free Report) last released its quarterly earnings data on Wednesday, February 28th. The financial services provider reported C$2.59 EPS for the quarter, beating the consensus estimate of C$2.38 by C$0.21. National Bank of Canada had a net margin of 34.22% and a return on equity of 14.73%. The business had revenue of C$2.71 billion during the quarter, compared to analyst estimates of C$2.72 billion. Equities analysts forecast that National Bank of Canada will post 9.8686007 EPS for the current fiscal year.

Insider Buying and Selling at National Bank of Canada

In related news, Director Yvon Charest purchased 324 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were bought at an average price of C$116.20 per share, for a total transaction of C$37,648.80. Company insiders own 0.20% of the company’s stock.

National Bank of Canada Company Profile

(Get Free Report)

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.

Further Reading

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