National Bank of Canada (TSE:NA) Hits New 52-Week High - Here's What Happened

Key Points

• The National Bank of Canada (TSE:NA) reached a new 52-week high at C$144.82 during trading, with a current stock price of C$144.45.
• Dividend increases have been announced, with a quarterly dividend of $1.18 per share set to be issued on August 1st, up from the previous $1.14.
• Analysts have mixed ratings on the stock, with two sell ratings, seven holds, one buy, and one strong buy, and a consensus target price of C$135.36.

National Bank of Canada (TSE:NA - Get Free Report) shares hit a new 52-week high on Tuesday . The stock traded as high as C$144.82 and last traded at C$144.45, with a volume of 470538 shares changing hands. The stock had previously closed at C$144.62.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on NA shares. Cibc World Mkts cut National Bank of Canada from a "hold" rating to a "strong sell" rating in a research report on Friday, April 4th. Canaccord Genuity Group raised their target price on shares of 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. Jefferies Financial Group lowered shares of National Bank of Canada from a "buy" rating to a "hold" rating and dropped their target price for the company from C$147.00 to C$126.00 in a research report on Monday, April 21st. CIBC lifted their target price on shares of National Bank of Canada from C$125.00 to C$127.00 and gave the company an "underperform" rating in a research report on Thursday, June 5th. Finally, Royal Bank Of Canada lifted their target price on shares of National Bank of Canada from C$148.00 to C$152.00 and gave the company a "sector perform" rating in a research report on Monday, June 9th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of C$135.36.

National Bank of Canada Trading Down 0.6%

The stock has a 50 day simple moving average of C$138.31 and a 200 day simple moving average of C$127.58. The firm has a market capitalization of C$55.85 billion, a PE ratio of 12.71, 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. Shareholders of record on Friday, August 1st will be paid a $1.18 dividend. This is an increase from National Bank of Canada's previous quarterly dividend of $1.14. The ex-dividend date of this dividend is Monday, June 30th. This represents a $4.72 dividend on an annualized basis and a yield of 3.3%. National Bank of Canada's payout ratio is presently 39.03%.

Insider Buying and Selling

In related news, Director Yvon Charest purchased 362 shares of the firm's stock in a transaction on Tuesday, May 20th. The shares were acquired at an average cost of C$127.93 per share, with a total value of C$46,310.66. 0.21% of the stock is owned by company insiders.

National Bank of Canada Company Profile

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.