National Bank of Canada (TSE:NA) Hits New 12-Month High - Should You Buy?

National Bank of Canada (TSE:NA - Get Free Report) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as C$141.22 and last traded at C$141.04, with a volume of 1262740 shares traded. The stock had previously closed at C$140.52.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on NA. Cibc World Mkts cut National Bank of Canada from a "hold" rating to a "strong sell" rating in a research report on Friday, April 4th. Scotiabank raised National Bank of Canada to a "strong-buy" rating in a report on Thursday, May 15th. CIBC upped their price target on 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. Canaccord Genuity Group increased their price target on National Bank of Canada from C$136.00 to C$138.00 and gave the stock a "hold" rating in a report on Tuesday, June 24th. Finally, Royal Bank Of Canada boosted their price objective on shares of National Bank of Canada from C$148.00 to C$152.00 and gave the company a "sector perform" rating in a research note on Monday, June 9th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of C$135.36.

National Bank of Canada Stock Performance

The company's fifty day moving average price is C$130.62 and its two-hundred day moving average price is C$126.08. The firm has a market capitalization of C$55.18 billion, a PE ratio of 12.55, a price-to-earnings-growth ratio of 7.14 and a beta of 1.12.

National Bank of Canada Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Friday, August 1st will be issued a dividend of $1.18 per share. This is a positive change from National Bank of Canada's previous quarterly dividend of $1.14. The ex-dividend date of this dividend is Monday, June 30th. This represents a $4.72 annualized dividend and a dividend yield of 3.33%. National Bank of Canada's payout ratio is presently 39.03%.

Insider Buying and Selling

In other news, Director Yvon Charest bought 362 shares of National Bank of Canada stock in a transaction dated Tuesday, May 20th. The shares were acquired at an average cost of C$127.93 per share, with a total value of C$46,310.66. 0.21% of the stock is owned by company 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.