National Bank of Canada (TSE:NA) Hits New 1-Year High - Should You Buy?

National Bank of Canada (TSE:NA - Get Free Report) shares hit a new 52-week high on Thursday . The company traded as high as C$142.64 and last traded at C$142.63, with a volume of 182917 shares changing hands. The stock had previously closed at C$141.53.

Wall Street Analyst Weigh In

A number of research firms have weighed in on NA. Cibc World Mkts lowered National Bank of Canada from a "hold" rating to a "strong sell" rating in a report on Friday, April 4th. Royal Bank Of Canada increased 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 research note on Monday, June 9th. CIBC boosted their price objective on National Bank of Canada from C$125.00 to C$127.00 and gave the stock an "underperform" rating in a research note on Thursday, June 5th. Scotiabank raised shares of National Bank of Canada to a "strong-buy" rating in a research note on Thursday, May 15th. Finally, Jefferies Financial Group downgraded National Bank of Canada from a "buy" rating to a "hold" rating and cut their target price for the stock from C$147.00 to C$126.00 in a research note on Monday, April 21st. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of C$135.36.

National Bank of Canada Price Performance

The business's 50-day moving average price is C$134.63 and its 200 day moving average price is C$126.67. The firm has a market capitalization of C$55.65 billion, a price-to-earnings ratio of 12.66, a PEG ratio of 7.14 and a beta of 1.12.

National Bank of Canada Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, August 1st will be given a dividend of $1.18 per share. This is a boost from National Bank of Canada's previous quarterly dividend of $1.14. The ex-dividend date is Monday, June 30th. This represents a $4.72 annualized dividend and a dividend yield of 3.31%. National Bank of Canada's dividend payout ratio (DPR) is presently 39.03%.

Insider Transactions at National Bank of Canada

In other National Bank of Canada news, Director Yvon Charest bought 362 shares of the stock in a transaction on Tuesday, May 20th. The stock was purchased at an average price of C$127.93 per share, for a total transaction of C$46,310.66. 0.21% of the stock is owned by insiders.

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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