National Bank of Canada (TSE:NA) Hits New 12-Month High - What's Next?

Key Points

• National Bank of Canada shares reached a new 52-week high of C$155.00 during trading, closing at C$151.32 with over 1.1 million shares exchanged.
• Brokerages have issued an average price target of C$143.42, with 2 analysts recommending a Buy rating and 9 a Hold rating for the stock.
• The bank announced a quarterly dividend of $1.18 to be paid on November 1st, which translates to an annual yield of 3.1% with a payout ratio of 44.93%.

National Bank of Canada (TSE:NA - Get Free Report) hit a new 52-week high during trading on Friday . The stock traded as high as C$155.00 and last traded at C$151.32, with a volume of 1139638 shares. The stock had previously closed at C$150.17.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Barclays lifted their target price on shares of National Bank of Canada from C$141.00 to C$147.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 14th. CIBC lifted their target price on shares of National Bank of Canada from C$151.00 to C$154.00 and gave the stock a "neutral" rating in a research note on Friday, September 5th. Canaccord Genuity Group lifted their target price on shares of National Bank of Canada from C$136.00 to C$138.00 and gave the stock a "hold" rating in a research note on Tuesday, June 24th. Jefferies Financial Group decreased their target price on shares of National Bank of Canada from C$157.00 to C$153.00 and set a "hold" rating on the stock in a research note on Thursday, August 28th. Finally, Scotiabank boosted their price objective on shares of National Bank of Canada from C$142.00 to C$147.00 and gave the company an "outperform" rating in a research report on Thursday, August 28th. Two equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, National Bank of Canada presently has an average rating of "Hold" and a consensus price target of C$143.42.

National Bank of Canada Trading Down 0.0%

The stock's 50 day moving average is C$146.50 and its 200-day moving average is C$133.04. The company has a market cap of C$59.56 billion, a P/E ratio of 14.97, a PEG ratio of 7.14 and a beta of 1.06.

National Bank of Canada Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, November 1st. Shareholders of record on Monday, September 29th will be given a $1.18 dividend. This represents a $4.72 dividend on an annualized basis and a yield of 3.1%. National Bank of Canada's dividend payout ratio (DPR) is 44.93%.

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.