National Bank of Canada (TSE:NA) Shares Down 0.1% - Time to Sell?

Key Points

• National Bank of Canada's shares traded down 0.1%, closing at C$150.41, with an increase in trading volume of 5% compared to the average.
• Analysts have set a range of price targets for the stock, with ratings from Strong Buy to Hold, while the average price target is C$142.08.
• The bank declared a quarterly dividend of $1.18, which represents an annual yield of 3.1%, to be paid on November 1st.

Shares of National Bank of Canada (TSE:NA - Get Free Report) traded down 0.1% during mid-day trading on Wednesday . The stock traded as low as C$148.82 and last traded at C$150.41. 1,908,870 shares traded hands during trading, an increase of 5% from the average session volume of 1,810,840 shares. The stock had previously closed at C$150.54.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Barclays lifted their price target on shares of National Bank of Canada from C$141.00 to C$147.00 and gave the company an "equal weight" rating in a report on Thursday, August 14th. 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. Canaccord Genuity Group raised 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 research report on Tuesday, June 24th. Jefferies Financial Group raised their price objective on shares of National Bank of Canada from C$139.00 to C$157.00 in a research report on Wednesday, August 13th. Finally, Desjardins raised their price objective on shares of National Bank of Canada from C$136.00 to C$150.00 and gave the company a "hold" rating in a research report on Wednesday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of C$142.08.

National Bank of Canada Stock Performance

The firm's 50-day moving average price is C$143.59 and its 200 day moving average price is C$129.92. The company has a market cap of C$58.64 billion, a price-to-earnings ratio of 13.34, a PEG ratio of 7.14 and a beta of 1.12.

National Bank of Canada Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, November 1st. Shareholders of record on Monday, September 29th will be paid a $1.18 dividend. This represents a $4.72 dividend on an annualized basis and a yield of 3.1%. National Bank of Canada's payout ratio is currently 39.03%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.