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

Key Points

• National Bank of Canada shares have crossed above their 200-day moving average of C$138.63, reaching a high of C$154.89 during trading.
• The bank recently announced a quarterly dividend of $1.18 per share, which will be paid on November 1st, reflecting an annualized yield of 3.1%.
• Analysts have varying price targets for the stock, with Scotiabank raising its target from C$150.00 to C$159.00, while other firms have adjusted their ratings to hold or neutral.

National Bank of Canada (TSE:NA - Get Free Report) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$138.63 and traded as high as C$154.89. National Bank of Canada shares last traded at C$154.46, with a volume of 2,018,318 shares trading hands.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Scotiabank lifted their target price on shares of National Bank of Canada from C$150.00 to C$159.00 in a research note on Friday, October 10th. Jefferies Financial Group reduced their price objective on shares of National Bank of Canada from C$157.00 to C$153.00 and set a "hold" rating for the company in a research note on Thursday, August 28th. Barclays boosted their price objective 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 research note on Thursday, August 14th. Desjardins reduced their price objective on shares of National Bank of Canada from C$150.00 to C$149.00 and set a "hold" rating for the company in a research note on Thursday, August 28th. Finally, CIBC boosted their price objective on shares of National Bank of Canada from C$151.00 to C$154.00 and gave the stock a "neutral" rating in a research note on Friday, September 5th. Two investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of C$144.42.

National Bank of Canada Stock Performance

The stock has a market capitalization of C$60.57 billion, a price-to-earnings ratio of 15.22, a PEG ratio of 7.14 and a beta of 1.10. The company's 50 day moving average is C$149.62 and its 200 day moving average is C$138.63.

National Bank of Canada Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, November 1st. Investors of record on Monday, September 29th will be paid a dividend of $1.18 per share. This represents a $4.72 annualized dividend and a yield of 3.1%. National Bank of Canada's payout ratio is currently 44.93%.

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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