National Bank of Canada (TSE:NA) Share Price Passes Above Two Hundred Day Moving Average - What's Next?

Key Points

• Shares of National Bank of Canada crossed above its 200-day moving average (C$166.36), trading as high as C$180.74 and last at C$179.48 on volume of 1,274,429.
• Several analysts raised price targets (Scotiabank to C$202, Raymond James to C$200, among others), but the MarketBeat consensus remains a Hold with an average target of C$191.45 (4 Buys, 6 Holds).
• The bank declared a quarterly dividend of $1.24 (annualized C$4.96) payable May 1 with an ex-dividend date of March 30, implying a yield of about 2.8% and a payout ratio of ~45.7%.

Shares of National Bank of Canada (TSE:NA - Get Free Report) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$166.36 and traded as high as C$180.74. National Bank of Canada shares last traded at C$179.48, with a volume of 1,274,429 shares traded.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Raymond James Financial boosted their target price on shares of National Bank of Canada from C$179.00 to C$200.00 and gave the company a "market perform" rating in a research report on Thursday, February 26th. Scotiabank raised their price target on shares of National Bank of Canada from C$188.00 to C$202.00 and gave the stock an "outperform" rating in a research report on Thursday, February 26th. Jefferies Financial Group lifted their price objective on shares of National Bank of Canada from C$165.00 to C$172.00 in a research note on Thursday, February 26th. Canadian Imperial Bank of Commerce boosted their price objective on shares of National Bank of Canada from C$189.00 to C$193.00 in a report on Thursday, February 26th. Finally, Barclays increased their target price on shares of National Bank of Canada from C$177.00 to C$183.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 26th. Four analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of C$191.45.

National Bank of Canada Trading Up 0.2%

The stock has a market capitalization of C$69.48 billion, a P/E ratio of 17.31, a P/E/G ratio of 7.14 and a beta of 1.32. The business has a 50-day moving average price of C$175.83 and a two-hundred day moving average price of C$166.36.

National Bank of Canada (TSE:NA - Get Free Report) last issued its quarterly earnings results on Wednesday, February 25th. The financial services provider reported C$3.25 EPS for the quarter. The company had revenue of C$3.89 billion for the quarter. National Bank of Canada had a return on equity of 12.83% and a net margin of 15.85%. On average, sell-side analysts forecast that National Bank of Canada will post 10.8360791 earnings per share for the current fiscal year.

National Bank of Canada Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 1st. Shareholders of record on Friday, May 1st will be issued a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Monday, March 30th. National Bank of Canada's dividend payout ratio (DPR) is currently 45.71%.

National Bank of Canada Company Profile

National Bank of Canada is the sixth-largest Canadian bank. The bank offers integrated financial services, primarily in the province of Quebec as well as the city of Toronto. Operational segments include personal and commercial banking, wealth management, and a financial markets group.

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