National Bank of Canada (TSE:NA) Declares $1.18 Quarterly Dividend

Key Points

• The National Bank of Canada declared a quarterly dividend of $1.18 per share, with payments scheduled for November 1st to investors recorded by September 29th.
• As of the latest trading, the stock price decreased by 4.3% to C$143.89, with analysts adjusting price targets, some setting increases for the stock to as high as C$157.00.
• Currently, the consensus rating among analysts for National Bank of Canada is "Hold", with an average price target of C$142.08.

National Bank of Canada (TSE:NA - Get Free Report) announced a quarterly dividend on Wednesday, August 27th, RTT News reports. Investors of record on Monday, September 29th will be paid a dividend of 1.18 per share by the financial services provider on Saturday, November 1st. This represents a c) annualized dividend and a yield of 3.3%.

National Bank of Canada Stock Down 4.3%

NA traded down C$6.52 during trading hours on Wednesday, hitting C$143.89. The stock had a trading volume of 1,150,464 shares, compared to its average volume of 1,805,311. The company's fifty day simple moving average is C$143.59 and its 200 day simple moving average is C$129.92. National Bank of Canada has a 1 year low of C$106.67 and a 1 year high of C$151.97. The stock has a market cap of C$56.10 billion, a PE ratio of 12.76, a price-to-earnings-growth ratio of 7.14 and a beta of 1.12.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Barclays lifted their price objective on National Bank of Canada from C$141.00 to C$147.00 and gave the stock an "equal weight" rating in a report on Thursday, August 14th. Canaccord Genuity Group lifted their target price on National Bank of Canada from C$136.00 to C$138.00 and gave the company a "hold" rating in a report on Tuesday, June 24th. Scotiabank raised National Bank of Canada to a "strong-buy" rating in a report on Thursday, May 15th. Jefferies Financial Group lifted their target price on National Bank of Canada from C$139.00 to C$157.00 in a report on Wednesday, August 13th. Finally, Royal Bank Of Canada lifted their target price on National Bank of Canada from C$148.00 to C$152.00 and gave the company 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 and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of C$142.08.

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.

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