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

Key Points

• National Bank of Canada shares have recently surpassed their 200-day moving average, trading at C$144.62 with analysts providing mixed ratings on the stock.
• The bank declared a quarterly dividend of $1.18, an increase from its previous dividend of $1.14, reflecting an annualized yield of 3.26%.
• Corporate insider Yvon Charest purchased 362 shares at an average price of C$127.93, indicating confidence in the bank's performance.

National Bank of Canada (TSE:NA - Get Free Report) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$127.25 and traded as high as C$144.80. National Bank of Canada shares last traded at C$144.62, with a volume of 890,676 shares.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NA. CIBC lifted their price objective 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. Cibc World Mkts cut shares of National Bank of Canada from a "hold" rating to a "strong sell" rating in a report on Friday, April 4th. Jefferies Financial Group cut shares of National Bank of Canada from a "buy" rating to a "hold" rating and reduced their price objective for the company from C$147.00 to C$126.00 in a report on Monday, April 21st. Canaccord Genuity Group lifted their price objective on shares of 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. Finally, Scotiabank upgraded shares of National Bank of Canada to a "strong-buy" rating in a report on Thursday, May 15th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of C$135.36.

National Bank of Canada Stock Performance

The company's fifty day moving average is C$137.36 and its 200-day moving average is C$127.26. The company has a market capitalization of C$56.43 billion, a PE ratio of 12.84, a price-to-earnings-growth ratio of 7.14 and a beta of 1.12.

National Bank of Canada Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Friday, August 1st will be issued a $1.18 dividend. This is an increase from National Bank of Canada's previous quarterly dividend of $1.14. This represents a $4.72 annualized dividend and a dividend yield of 3.26%. The ex-dividend date is Monday, June 30th. National Bank of Canada's payout ratio is presently 39.03%.

Insider Transactions at National Bank of Canada

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

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.