National Bank of Canada (TSE:NA) Declares Dividend Increase - $1.18 Per Share

National Bank of Canada (TSE:NA - Get Free Report) declared a quarterly dividend on Wednesday, May 28th, RTT News reports. Investors of record on Monday, June 30th will be paid a dividend of 1.18 per share by the financial services provider on Friday, August 1st. This represents a $4.72 annualized dividend and a yield of 3.50%. This is a 3.5% increase from National Bank of Canada's previous quarterly dividend of $1.14.

National Bank of Canada Stock Performance

TSE:NA traded up C$1.37 during trading hours on Friday, reaching C$134.94. The company's stock had a trading volume of 2,973,810 shares, compared to its average volume of 1,915,980. The stock has a 50 day moving average price of C$121.00 and a two-hundred day moving average price of C$125.98. The company has a market capitalization of C$52.61 billion, a P/E ratio of 11.97, a price-to-earnings-growth ratio of 7.14 and a beta of 1.12. National Bank of Canada has a 12 month low of C$105.43 and a 12 month high of C$141.15.

Insider Buying and Selling at National Bank of Canada

In other news, Senior Officer Lucie Blanchet bought 2,147 shares of the company's stock in a transaction that occurred on Thursday, March 13th. The shares were purchased at an average price of C$116.28 per share, with a total value of C$249,653.16. Also, Director Macky Tall bought 4,182 shares of the business's stock in a transaction on Monday, March 3rd. The stock was purchased at an average price of C$119.14 per share, with a total value of C$498,243.48. Insiders have purchased a total of 7,691 shares of company stock worth $912,137 in the last quarter. 0.21% of the stock is owned by insiders.

Analysts Set New Price Targets

NA has been the subject of a number of recent research reports. TD Securities cut their price objective on shares of National Bank of Canada from C$135.00 to C$131.00 and set a "hold" rating for the company in a report on Wednesday, March 5th. Jefferies Financial Group downgraded National Bank of Canada from a "buy" rating to a "hold" rating and reduced their price objective for the stock from C$147.00 to C$126.00 in a research report on Monday, April 21st. Royal Bank of Canada lowered their price objective on National Bank of Canada from C$145.00 to C$144.00 and set a "sector perform" rating on the stock in a research note on Thursday, February 27th. Desjardins cut their target price on National Bank of Canada from C$140.00 to C$136.00 and set a "hold" rating for the company in a research note on Thursday, February 27th. Finally, Cibc World Mkts cut shares of National Bank of Canada from a "hold" rating to a "strong sell" rating in a research report on Friday, April 4th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of C$134.10.

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.