National Bank of Canada (TSE:NA) Shares Pass Above 200-Day Moving Average - Here's What Happened

National Bank of Canada (TSE:NA - Get Free Report)'s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$125.76 and traded as high as C$136.55. National Bank of Canada shares last traded at C$135.94, with a volume of 2,542,140 shares changing hands.

Analyst Upgrades and Downgrades

NA has been the subject of several recent research reports. Scotiabank raised National Bank of Canada to a "strong-buy" rating in a report on Thursday, May 15th. Desjardins dropped their price objective on National Bank of Canada from C$140.00 to C$136.00 and set a "hold" rating for the company in a research note on Thursday, February 27th. CIBC upped their price objective on National Bank of Canada from C$125.00 to C$127.00 and gave the stock an "underperform" rating in a research note on Thursday, June 5th. BMO Capital Markets dropped their price objective on National Bank of Canada from C$143.00 to C$135.00 and set an "outperform" rating for the company in a research note on Thursday, February 27th. Finally, TD Securities dropped their price objective on National Bank of Canada from C$135.00 to C$131.00 and set a "hold" rating for the company in a research note on Wednesday, March 5th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of C$135.36.

National Bank of Canada Stock Performance

The firm has a fifty day simple moving average of C$125.51 and a 200 day simple moving average of C$125.83. The company has a market capitalization of C$52.67 billion, a PE ratio of 11.98, a P/E/G ratio of 7.14 and a beta of 1.12.

National Bank of Canada Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, August 1st will be issued a $1.18 dividend. The ex-dividend date is Monday, June 30th. This is an increase from National Bank of Canada's previous quarterly dividend of $1.14. This represents a $4.72 dividend on an annualized basis and a dividend yield of 3.49%. National Bank of Canada's dividend payout ratio (DPR) is currently 39.03%.

Insider Activity

In other National Bank of Canada news, Director Yvon Charest acquired 362 shares of the stock in a transaction dated Tuesday, May 20th. The stock was purchased at an average price of C$127.93 per share, with a total value of C$46,310.66. Company 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.