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

Key Points

• The National Bank of Canada reached a new 52-week high, trading at C$146.47, with a substantial trading volume of 67,760 shares.
• Analyst ratings for the stock vary, with a "strong-buy" from Scotiabank, while Jefferies Financial Group downgraded it to "hold" with a reduced target price of C$126.00.
• The bank has increased its quarterly dividend from $1.14 to $1.18 per share, representing a yield of 3.2% and a payout ratio of 39.03%.

Shares of National Bank of Canada (TSE:NA - Get Free Report) hit a new 52-week high on Thursday . The company traded as high as C$146.47 and last traded at C$146.11, with a volume of 67760 shares traded. The stock had previously closed at C$145.17.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Scotiabank raised shares of National Bank of Canada to a "strong-buy" rating in a report on Thursday, May 15th. Jefferies Financial Group downgraded shares of National Bank of Canada from a "buy" rating to a "hold" rating and cut their price objective for the company from C$147.00 to C$126.00 in a research report on Monday, April 21st. Cibc World Mkts upgraded shares of National Bank of Canada from a "strong sell" rating to a "hold" rating in a research note on Friday, August 1st. Canaccord Genuity Group upped their price objective on 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. Finally, Royal Bank Of Canada boosted their price target on shares of National Bank of Canada from C$148.00 to C$152.00 and gave the stock a "sector perform" rating in a research note on Monday, June 9th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of C$135.36.

National Bank of Canada Trading Up 0.3%

The business has a fifty day moving average of C$139.41 and a two-hundred day moving average of C$127.94. The company has a market cap of C$56.77 billion, a price-to-earnings ratio of 12.92, a PEG ratio of 7.14 and a beta of 1.12.

National Bank of Canada Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Friday, August 1st were issued a $1.18 dividend. This represents a $4.72 annualized dividend and a yield of 3.2%. The ex-dividend date was Monday, June 30th. This is a positive change from National Bank of Canada's previous quarterly dividend of $1.14. National Bank of Canada's dividend payout ratio (DPR) is presently 39.03%.

Insider Buying and Selling

In related news, Director Yvon Charest bought 362 shares of the company's stock in a transaction that occurred on Tuesday, May 20th. The stock was purchased at an average price of C$127.93 per share, for a total transaction of C$46,310.66. Corporate insiders own 0.21% of the company's stock.

National Bank of Canada Company Profile

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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