National Bank of Canada (TSE:NA) Share Price Passes Above 200 Day Moving Average - Time to Sell?

Key Points

• The share price of National Bank of Canada recently crossed above its 200-day moving average, reaching a peak of C$151.00 during trading.
• Wall Street analysts have upgraded their price targets for the bank, with Jefferies Financial Group raising their target from C$139.00 to C$157.00.
• National Bank of Canada has announced a dividend increase, declaring a quarterly dividend of $1.18, up from $1.14, representing an annualized yield of 3.1%.

National Bank of Canada (TSE:NA - Get Free Report)'s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$129.22 and traded as high as C$151.00. National Bank of Canada shares last traded at C$150.27, with a volume of 1,727,245 shares.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Barclays raised their target price on shares of National Bank of Canada from C$141.00 to C$147.00 and gave the stock an "equal weight" rating in a report on Thursday, August 14th. 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. 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 company a "sector perform" rating in a report on Monday, June 9th. Jefferies Financial Group lifted their price target on shares of National Bank of Canada from C$139.00 to C$157.00 in a report on Wednesday, August 13th. Finally, Scotiabank upgraded shares of National Bank of Canada to a "strong-buy" rating in a report on Thursday, May 15th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of C$142.08.

National Bank of Canada Trading Down 0.1%

The stock has a market capitalization of C$58.64 billion, a P/E ratio of 13.34, a P/E/G ratio of 7.14 and a beta of 1.12. The business has a 50-day moving average price of C$143.59 and a 200 day moving average price of C$129.92.

National Bank of Canada Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Friday, August 1st were given a dividend of $1.18 per share. The ex-dividend date was Monday, June 30th. This represents a $4.72 dividend on an annualized basis and a dividend yield of 3.1%. 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%.

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.