National Bank of Canada (TSE:NA) Hits New 1-Year High Following Analyst Upgrade

Key Points

• National Bank of Canada's stock hit a new 52-week high, trading as high as C$207.70 after TD raised its price target from C$182 to C$202 while maintaining a Hold rating.
• Analysts are mixed: four have Buy ratings and seven have Hold ratings, with a consensus target price of C$193.50.
• The bank has a market cap of C$80.45 billion, a P/E of 20.04 and reported quarterly EPS of C$3.25, and it pays a quarterly dividend of C$1.24 (annualized C$4.96) for a yield of 2.4% and a payout ratio of 45.71%.

National Bank of Canada (TSE:NA - Get Free Report)'s stock price hit a new 52-week high during trading on Wednesday after TD raised their price target on the stock from C$182.00 to C$202.00. TD currently has a hold rating on the stock. National Bank of Canada traded as high as C$207.70 and last traded at C$207.64, with a volume of 58806 shares trading hands. The stock had previously closed at C$204.47.

A number of other brokerages have also weighed in on NA. Royal Bank Of Canada reduced their price target on National Bank of Canada from C$193.00 to C$180.00 and set a "sector perform" rating on the stock in a research note on Wednesday, March 25th. TD Securities increased their price target on National Bank of Canada from C$175.00 to C$182.00 in a research note on Thursday, February 26th. Jefferies Financial Group increased their price target on National Bank of Canada from C$165.00 to C$172.00 in a research note on Thursday, February 26th. Canadian Imperial Bank of Commerce increased their price target on National Bank of Canada from C$189.00 to C$193.00 in a research note on Thursday, February 26th. Finally, Barclays increased their price target on National Bank of Canada from C$177.00 to C$183.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 26th. Four research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, National Bank of Canada has an average rating of "Hold" and a consensus target price of C$193.50.

National Bank of Canada Trading Up 1.6%

The firm has a market capitalization of C$80.45 billion, a PE ratio of 20.04, a price-to-earnings-growth ratio of 7.14 and a beta of 1.30. The firm has a 50-day moving average of C$189.67 and a two-hundred day moving average of C$175.00.

National Bank of Canada (TSE:NA - Get Free Report) last issued its earnings results on Wednesday, February 25th. The financial services provider reported C$3.25 earnings per share for the quarter. The business had revenue of C$3.89 billion for the quarter. National Bank of Canada had a return on equity of 12.83% and a net margin of 15.85%. Equities research analysts expect that National Bank of Canada will post 10.8360791 earnings per share for the current fiscal year.

National Bank of Canada Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 1st. Investors of record on Friday, May 1st were given a $1.24 dividend. This represents a $4.96 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend was Monday, March 30th. National Bank of Canada's dividend payout ratio (DPR) is 45.71%.

National Bank of Canada Company Profile

National Bank of Canada is the sixth-largest Canadian bank. The bank offers integrated financial services, primarily in the province of Quebec as well as the city of Toronto. Operational segments include personal and commercial banking, wealth management, and a financial markets group.

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