National Bank of Canada (TSE:NA) Sets New 12-Month High on Analyst Upgrade

Key Points

• The National Bank of Canada reached a new 12-month high of C$148.12 and last traded at C$148.09, with a total volume of 878,603 shares.
• Wall Street analysts generally have a consensus rating of "Hold" for the stock, with target prices varying from C$126.00 to C$152.00.
• The bank recently increased its quarterly dividend to $1.18, representing an annualized yield of 3.2% and a payout ratio of 39.03%.

National Bank of Canada (TSE:NA - Get Free Report) shares hit a new 52-week high during trading on Wednesday after Barclays raised their price target on the stock from C$141.00 to C$147.00. Barclays currently has an equal weight rating on the stock. National Bank of Canada traded as high as C$148.12 and last traded at C$148.09, with a volume of 878603 shares traded. The stock had previously closed at C$146.94.

NA has been the topic of several other research reports. Royal Bank Of Canada upped their price objective on National Bank of Canada from C$148.00 to C$152.00 and gave the company a "sector perform" rating in a research note on Monday, June 9th. Scotiabank upgraded National Bank of Canada to a "strong-buy" rating in a research note on Thursday, May 15th. Jefferies Financial Group upped their price objective on National Bank of Canada from C$139.00 to C$157.00 in a research note on Wednesday. Desjardins upped their price objective on National Bank of Canada from C$136.00 to C$150.00 and gave the company a "hold" rating in a research note on Wednesday. Finally, Canaccord Genuity Group upped their price objective on National Bank of Canada from C$136.00 to C$138.00 and gave the company a "hold" rating in a research note on Tuesday, June 24th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of C$140.08.

Insider Transactions at National Bank of Canada

In other news, Director Yvon Charest purchased 362 shares of the stock in a transaction that occurred on Tuesday, May 20th. The shares were purchased at an average cost of C$127.93 per share, for a total transaction of C$46,310.66. Insiders own 0.21% of the company's stock.

National Bank of Canada Trading Up 0.4%

The firm has a market capitalization of C$58.68 billion, a price-to-earnings ratio of 13.35, a P/E/G ratio of 7.14 and a beta of 1.12. The firm has a fifty day moving average price of C$141.06 and a 200 day moving average price of C$128.65.

National Bank of Canada Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Friday, August 1st were given a $1.18 dividend. This is a boost from National Bank of Canada's previous quarterly dividend of $1.14. The ex-dividend date was Monday, June 30th. This represents a $4.72 annualized dividend and a yield of 3.1%. National Bank of Canada's dividend payout ratio is presently 39.03%.

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.