National Bank of Canada (TSE:NA) Shares Cross Above 200-Day Moving Average - Here's Why

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 crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred 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 have recently commented on the stock. Canaccord Genuity Group lifted their price target on shares of 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. Royal Bank Of Canada lifted 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 report on Monday, June 9th. Jefferies Financial Group downgraded shares of National Bank of Canada from a "buy" rating to a "hold" rating and lowered their target price for the stock from C$147.00 to C$126.00 in a research note 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 report on Friday, August 1st. Finally, CIBC boosted their target price on shares of 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. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of C$135.36.

National Bank of Canada Price Performance

The firm has a market capitalization of C$57.19 billion, a PE ratio of 13.01, a PEG ratio of 7.14 and a beta of 1.12. The firm's fifty day moving average is C$139.90 and its two-hundred day moving average is C$128.15.

National Bank of Canada Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Friday, August 1st were given a $1.18 dividend. This is a positive change 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%. The ex-dividend date of this dividend was Monday, June 30th. National Bank of Canada's payout ratio is presently 39.03%.

Insider Buying and Selling

In other National Bank of Canada news, Director Yvon Charest purchased 362 shares of the stock in a transaction dated 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.

About National Bank of Canada

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.