National Bank of Canada (TSE:NA) Reaches New 12-Month High - Still a Buy?

Key Points

• National Bank of Canada shares reached a new 52-week high, trading up to C$204.18 (last C$204.28) on Thursday with volume around 266,975 shares and a ~1.9% intraday gain.
• Analysts are mixed: several firms raised price targets on Feb. 26, but with four Buys and six Holds the stock's consensus rating is "Hold" and the consensus target price is C$190.27.
• Underlying fundamentals include Q4 EPS of C$3.25 on C$3.89 billion revenue, a market cap of C$79.37 billion and P/E ~19.8, and the bank announced a quarterly dividend of C$1.24 (annualized C$4.96, ~2.4% yield; ex-dividend Mar 30).

National Bank of Canada (TSE:NA - Get Free Report)'s share price reached a new 52-week high during trading on Thursday . The company traded as high as C$204.18 and last traded at C$204.28, with a volume of 266975 shares. The stock had previously closed at C$201.17.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on NA shares. Raymond James Financial raised their price objective 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 research note on Thursday, February 26th. Barclays raised their price objective 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 research note on Thursday, February 26th. Jefferies Financial Group raised their price objective on shares of National Bank of Canada from C$165.00 to C$172.00 in a research note on Thursday, February 26th. Desjardins raised their price objective on shares of National Bank of Canada from C$182.00 to C$200.00 and gave the stock a "buy" rating in a research note on Thursday, February 26th. Finally, Canaccord Genuity Group decreased their price objective 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 research note on Monday, March 9th. Four equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of C$190.27.

National Bank of Canada Trading Up 1.9%

The stock has a 50-day simple moving average of C$188.59 and a 200 day simple moving average of C$174.08. The stock has a market capitalization of C$79.37 billion, a price-to-earnings ratio of 19.77, a price-to-earnings-growth ratio of 7.14 and a beta of 1.23.

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

National Bank of Canada Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 1st. Shareholders of record on Friday, May 1st will be paid a dividend of $1.24 per share. The ex-dividend date of this dividend is Monday, March 30th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 2.4%. National Bank of Canada's dividend payout ratio (DPR) is 45.71%.

About National Bank of Canada

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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