National Bank of Canada (TSE:NA) Hits New 1-Year High - What's Next?

Key Points

• The National Bank of Canada (TSE:NA) shares reached a new 52-week high of C$153.36, with a trading volume of 297,388 shares.
• The bank announced a quarterly dividend of $1.18 per share, translating to an annualized yield of 3.1% and a payout ratio of 44.93%.
• Analyst ratings vary, with two analysts recommending a "Buy" rating, while nine maintain a "Hold" rating, and the average price target is C$144.42.

National Bank of Canada (TSE:NA - Get Free Report)'s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as C$153.36 and last traded at C$153.25, with a volume of 297388 shares. The stock had previously closed at C$152.48.

Analyst Ratings Changes

Several research analysts have recently weighed in on NA shares. Cibc World Mkts upgraded National Bank of Canada from a "strong sell" rating to a "hold" rating in a research note on Friday, August 1st. Barclays boosted their price target on National Bank of Canada from C$141.00 to C$147.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 14th. Scotiabank boosted their price target on National Bank of Canada from C$150.00 to C$159.00 in a research note on Friday, October 10th. CIBC boosted their price target on National Bank of Canada from C$151.00 to C$154.00 and gave the stock a "neutral" rating in a research note on Friday, September 5th. Finally, Jefferies Financial Group decreased their price target on National Bank of Canada from C$157.00 to C$153.00 and set a "hold" rating for the company in a research note on Thursday, August 28th. Two investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of C$144.42.

National Bank of Canada Price Performance

The company has a market cap of C$60.10 billion, a PE ratio of 15.10, a PEG ratio of 7.14 and a beta of 1.10. The business has a 50-day moving average of C$149.33 and a 200 day moving average of C$137.81.

National Bank of Canada Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, November 1st. Investors of record on Monday, September 29th will be given a dividend of $1.18 per share. This represents a $4.72 dividend on an annualized basis and a yield of 3.1%. National Bank of Canada's dividend payout ratio (DPR) is presently 44.93%.

About National Bank of Canada

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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