National Bank of Canada (TSE:NA) Stock Passes Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• National Bank of Canada (TSE:NA) shares surpassed their 200-day moving average for the first time in trading, reaching a price of C$145.22.
• The company's recent dividend increase of $1.18 represents an annual yield of 3.3%, up from the previous quarterly dividend of $1.14.
• Analyst ratings show a mixed perspective with two sell ratings, seven holds, one buy, and one strong buy, with a consensus target price of C$135.36.

National Bank of Canada (TSE:NA - Get Free Report)'s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$127.70 and traded as high as C$145.22. National Bank of Canada shares last traded at C$144.77, with a volume of 981,289 shares.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on NA shares. Canaccord Genuity Group boosted their price objective on National Bank of Canada from C$136.00 to C$138.00 and gave the company a "hold" rating in a report on Tuesday, June 24th. Scotiabank upgraded National Bank of Canada to a "strong-buy" rating in a report on Thursday, May 15th. Jefferies Financial Group cut National Bank of Canada from a "buy" rating to a "hold" rating and dropped their price objective for the company from C$147.00 to C$126.00 in a report on Monday, April 21st. CIBC boosted their price objective on National Bank of Canada from C$125.00 to C$127.00 and gave the company an "underperform" rating in a report on Thursday, June 5th. Finally, Royal Bank Of Canada boosted their price objective on National Bank of Canada from C$148.00 to C$152.00 and gave the company a "sector perform" rating in a report on Monday, June 9th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, National Bank of Canada has an average rating of "Hold" and a consensus target price of C$135.36.

National Bank of Canada Price Performance

The company has a market capitalization of C$57.19 billion, a price-to-earnings ratio of 13.01, a P/E/G ratio of 7.14 and a beta of 1.12. The stock has a fifty day simple moving average of C$139.66 and a 200-day simple moving average of C$128.05.

National Bank of Canada Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Friday, August 1st were paid a $1.18 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $4.72 annualized dividend and a yield of 3.2%. This is an increase from National Bank of Canada's previous quarterly dividend of $1.14. National Bank of Canada's dividend payout ratio is currently 39.03%.

Insider Buying and Selling

In related news, Director Yvon Charest acquired 362 shares of the stock in a transaction on Tuesday, May 20th. The shares were bought at an average price of C$127.93 per share, with a total value 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.