National Bank of Canada (TSE:NA) Reaches New 12-Month High - Here's What Happened

Shares of National Bank of Canada (TSE:NA - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$141.87 and last traded at C$141.02, with a volume of 2604919 shares changing hands. The stock had previously closed at C$141.41.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Cibc World Mkts lowered National Bank of Canada from a "hold" rating to a "strong sell" rating in a research report on Friday, April 4th. Royal Bank Of Canada boosted their target price on National Bank of Canada from C$148.00 to C$152.00 and gave the stock a "sector perform" rating in a research report on Monday, June 9th. CIBC boosted their target price on National Bank of Canada from C$125.00 to C$127.00 and gave the stock an "underperform" rating in a research report on Thursday, June 5th. Canaccord Genuity Group boosted their target price on National Bank of Canada from C$136.00 to C$138.00 and gave the stock a "hold" rating in a research report on Tuesday, June 24th. Finally, Jefferies Financial Group lowered National Bank of Canada from a "buy" rating to a "hold" rating and cut their target price for the stock from C$147.00 to C$126.00 in a research report on Monday, April 21st. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of C$135.36.

National Bank of Canada Trading Down 0.3%

The firm has a market cap of C$54.98 billion, a price-to-earnings ratio of 12.51, a PEG ratio of 7.14 and a beta of 1.12. The firm has a 50-day moving average of C$131.96 and a two-hundred day moving average of C$126.17.

National Bank of Canada Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Friday, August 1st will be given a dividend of $1.18 per share. This represents a $4.72 annualized dividend and a dividend yield of 3.35%. The ex-dividend date is Monday, June 30th. This is a boost from National Bank of Canada's previous quarterly dividend of $1.14. National Bank of Canada's payout ratio is currently 39.03%.

Insider Buying and Selling

In other National Bank of Canada news, Director Yvon Charest bought 362 shares of the firm's stock in a transaction dated Tuesday, May 20th. The shares were acquired at an average cost of C$127.93 per share, for a total transaction of C$46,310.66. 0.21% of the stock is currently owned by company insiders.

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.

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