National Bank of Canada (OTCMKTS:NTIOF) Sets New 12-Month High - Here's What Happened

Key Points

• The National Bank of Canada reached a new 52-week high of $106.27, with a last traded price of $106.15.
• Analysts have mixed ratings on the stock, with one strong buy, one buy, three holds, and one sell, leading to a consensus rating of "Hold".
• The bank announced an increase in its dividend to $0.8578, reflecting a yield of 348.0% and a payout ratio of 45.90%.

National Bank of Canada (OTCMKTS:NTIOF - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $106.27 and last traded at $106.15, with a volume of 369 shares changing hands. The stock had previously closed at $105.78.

Analysts Set New Price Targets

NTIOF has been the subject of several analyst reports. Scotiabank upgraded National Bank of Canada to a "strong-buy" rating in a report on Thursday, May 15th. CIBC reaffirmed an "outperform" rating on shares of National Bank of Canada in a research report on Tuesday, May 20th. Finally, Cibc World Mkts raised National Bank of Canada from a "strong sell" rating to a "hold" rating in a research report on Friday, August 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold".

National Bank of Canada Stock Up 0.2%

The company has a debt-to-equity ratio of 0.09, a current ratio of 0.76 and a quick ratio of 0.76. The firm has a market cap of $41.79 billion, a price-to-earnings ratio of 14.11 and a beta of 1.02. The firm has a 50 day moving average price of $102.24 and a 200-day moving average price of $91.86.

National Bank of Canada (OTCMKTS:NTIOF - Get Free Report) last issued its quarterly earnings results on Wednesday, May 28th. The financial services provider reported $2.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.29. National Bank of Canada had a return on equity of 16.83% and a net margin of 18.73%. The business had revenue of $2.64 billion for the quarter, compared to analyst estimates of $3.33 billion. As a group, equities analysts predict that National Bank of Canada will post 7.63 EPS for the current fiscal year.

National Bank of Canada Increases Dividend

The firm also recently declared a dividend, which was paid on Friday, August 1st. Shareholders of record on Tuesday, July 1st were issued a $0.8578 dividend. This represents a dividend yield of 348.0%. This is an increase from National Bank of Canada's previous dividend of $0.80. The ex-dividend date was Monday, June 30th. National Bank of Canada's dividend payout ratio is currently 45.90%.

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.