National Bank of Canada (TSE:NA) Reaches New 1-Year High - Here's Why

Key Points

• National Bank of Canada hit a new 52-week high, trading as high as C$204.46 (last C$204.30) on Tuesday with about 42,868 shares changing hands.
• Analyst sentiment is mixed: the consensus rating is Hold with a consensus target price of C$190.27, after several firms raised or trimmed targets in late February–March.
• The bank has a market cap of C$78.93 billion and a trailing PE of 19.66, reported quarterly EPS of C$3.25, and declared a quarterly dividend of $1.24 (annualized $4.96) implying a 2.4% yield and a ~45.7% payout ratio.

National Bank of Canada (TSE:NA - Get Free Report) hit a new 52-week high during trading on Tuesday . The stock traded as high as C$204.46 and last traded at C$204.30, with a volume of 42868 shares. The stock had previously closed at C$203.68.

Wall Street Analyst Weigh In

NA has been the subject of several recent analyst reports. Raymond James Financial boosted their price target on shares of National Bank of Canada from C$179.00 to C$200.00 and gave the stock a "market perform" rating in a report on Thursday, February 26th. Barclays boosted their price target on shares of National Bank of Canada from C$177.00 to C$183.00 and gave the stock an "equal weight" rating in a report on Thursday, February 26th. TD Securities boosted their price target on shares of National Bank of Canada from C$175.00 to C$182.00 in a report on Thursday, February 26th. Canaccord Genuity Group cut their price target on shares of National Bank of Canada from C$191.00 to C$190.00 and set a "hold" rating for the company in a report on Monday, March 9th. Finally, Royal Bank Of Canada dropped their target price on shares of National Bank of Canada from C$193.00 to C$180.00 and set a "sector perform" rating for the company in a report on Wednesday, March 25th. Four research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of C$190.27.

National Bank of Canada Price Performance

The firm has a market cap of C$78.93 billion, a PE ratio of 19.66, a price-to-earnings-growth ratio of 7.14 and a beta of 1.23. The stock's fifty day moving average price is C$184.62 and its 200-day moving average price is C$171.69.

National Bank of Canada (TSE:NA - Get Free Report) last released its earnings results on Wednesday, February 25th. The financial services provider reported C$3.25 earnings per share (EPS) for the quarter. National Bank of Canada had a net margin of 15.85% and a return on equity of 12.83%. The business had revenue of C$3.89 billion during the quarter. On average, sell-side analysts anticipate that National Bank of Canada will post 10.8360791 earnings per share for the current fiscal year.

National Bank of Canada Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 1st. Stockholders of record on Friday, May 1st will be given a dividend of $1.24 per share. The ex-dividend date of this dividend is Monday, March 30th. This represents a $4.96 annualized dividend and a dividend yield of 2.4%. National Bank of Canada's payout ratio is presently 45.71%.

National Bank of Canada Company Profile

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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