Barclays Increases National Bank of Canada (TSE:NA) Price Target to C$147.00

Key Points

• Barclays has raised the price target for National Bank of Canada (TSE:NA) from C$141.00 to C$147.00, maintaining an "equal weight" rating on the stock.
• National Bank of Canada's stock is currently trading at C$149.42, up by 0.2%, with a market capitalization of C$58.26 billion.
• Analyst ratings on the stock include one sell, eight hold, one buy, and one strong buy, reflecting a consensus hold rating with an average target price of C$140.08.

National Bank of Canada (TSE:NA - Free Report) had its price objective increased by Barclays from C$141.00 to C$147.00 in a research report sent to investors on Thursday,BayStreet.CA reports. Barclays currently has an equal weight rating on the financial services provider's stock.

Several other research analysts have also recently weighed in on the stock. Jefferies Financial Group increased their price target on shares of National Bank of Canada from C$139.00 to C$157.00 in a report on Wednesday, August 13th. Scotiabank raised shares of National Bank of Canada to a "strong-buy" rating in a report on Thursday, May 15th. Cibc World Mkts raised shares of National Bank of Canada from a "strong sell" rating to a "hold" rating in a report on Friday, August 1st. Canaccord Genuity Group raised their target price on shares of National Bank of Canada from C$136.00 to C$138.00 and gave the stock a "hold" rating in a report on Tuesday, June 24th. Finally, Royal Bank Of Canada raised their target price on shares of National Bank of Canada from C$148.00 to C$152.00 and gave the stock a "sector perform" rating in a report on Monday, June 9th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of C$140.08.

National Bank of Canada Stock Performance

TSE:NA traded up C$0.39 during mid-day trading on Thursday, hitting C$151.02. The stock had a trading volume of 779,166 shares, compared to its average volume of 1,818,459. National Bank of Canada has a twelve month low of C$106.67 and a twelve month high of C$151.40. The stock has a market cap of C$58.88 billion, a price-to-earnings ratio of 13.40, a PEG ratio of 7.14 and a beta of 1.12. The company's 50 day simple moving average is C$142.04 and its 200 day simple moving average is C$129.08.

National Bank of Canada Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Friday, August 1st were paid a dividend of $1.18 per share. The ex-dividend date of this dividend was Monday, June 30th. This is a boost from National Bank of Canada's previous quarterly dividend of $1.14. This represents a $4.72 dividend on an annualized basis and a dividend yield of 3.1%. National Bank of Canada's payout ratio is presently 39.03%.

National Bank of Canada Company Profile

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.