National Bank of Canada (TSE:NA) Hits New 52-Week High - Here's Why

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%.

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

Analyst Ratings Changes

NA has been the topic of several research analyst reports. Royal Bank Of Canada increased their target price 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. Scotiabank raised shares of National Bank of Canada to a "strong-buy" rating in a research note on Thursday, May 15th. Jefferies Financial Group lowered shares of 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 note on Monday, April 21st. CIBC increased their target price on shares of National Bank of Canada from C$125.00 to C$127.00 and gave the stock an "underperform" rating in a research note on Thursday, June 5th. Finally, Canaccord Genuity Group increased 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. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of C$135.36.

National Bank of Canada Price Performance

The firm's 50 day moving average is C$140.16 and its 200 day moving average is C$128.23. The company has a market cap of C$57.29 billion, a PE ratio of 13.03, a PEG ratio of 7.14 and a beta of 1.12.

National Bank of Canada Increases Dividend

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

Insider Transactions at National Bank of Canada

In other National Bank of Canada news, Director Yvon Charest acquired 362 shares of the stock in a transaction dated Tuesday, May 20th. The stock was purchased 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 insiders.

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.