National Bank of Canada (TSE:NA) Reaches New 52-Week High - Here's What Happened

Key Points

• National Bank of Canada (TSE:NA) reached a new 52-week high, trading as high as C$192.84 and last at C$192.73 on a volume of 269,937 shares.
• Several analysts raised price targets (e.g., Scotiabank to C$202, Raymond James to C$200), yet MarketBeat's consensus rating remains a Hold with a consensus price target of C$190.27.
• Key fundamentals: market cap C$74.76 billion, trailing P/E 18.62, last-quarter EPS C$3.25, and a quarterly dividend of C$1.24 (annualized C$4.96) implying a yield of 2.6% with an ex-dividend date of March 30.

National Bank of Canada (TSE:NA - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as C$192.84 and last traded at C$192.73, with a volume of 269937 shares trading hands. The stock had previously closed at C$190.27.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on NA shares. National Bank Financial boosted their price target on shares of National Bank of Canada from C$183.00 to C$196.00 in a research note on Thursday, March 5th. BMO Capital Markets boosted their price target on shares of National Bank of Canada from C$177.00 to C$195.00 and gave the stock an "outperform" rating in a report on Thursday, February 26th. 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. Jefferies Financial Group upped their target price on shares of National Bank of Canada from C$165.00 to C$172.00 in a report on Thursday, February 26th. Finally, Scotiabank upped their target price on shares of National Bank of Canada from C$188.00 to C$202.00 and gave the company an "outperform" rating in a report on Thursday, February 26th. Four investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of C$190.27.

National Bank of Canada Stock Performance

The company has a market cap of C$74.76 billion, a PE ratio of 18.62, a P/E/G ratio of 7.14 and a beta of 1.23. The stock's 50-day simple moving average is C$179.39 and its 200 day simple moving average is C$168.81.

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

National Bank of Canada Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 1st. Investors of record on Friday, May 1st will be paid a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Monday, March 30th. National Bank of Canada's dividend payout ratio is presently 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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