National Bank of Canada (TSE:NA) Stock Crosses Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• National Bank of Canada (TSE:NA) stock crossed above its 200-day moving average, trading as high as C$151.61, with the last traded price at C$149.34.
• The bank announced a quarterly dividend of $1.18 per share, reflecting an annualized dividend of $4.72 and a yield of 3.2%.
• Analysts have mixed ratings on the stock, with two issuing a Buy rating and nine a Hold rating, and the average target price is C$143.42.

National Bank of Canada (TSE:NA - Get Free Report) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$135.79 and traded as high as C$151.61. National Bank of Canada shares last traded at C$149.34, with a volume of 2,130,943 shares.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Barclays upped 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 report on Thursday, August 14th. Scotiabank upped their price objective on shares of National Bank of Canada from C$142.00 to C$147.00 and gave the stock an "outperform" rating in a report on Thursday, August 28th. Jefferies Financial Group decreased 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 report on Thursday, August 28th. Royal Bank Of Canada decreased their price objective on shares of National Bank of Canada from C$152.00 to C$148.00 and set a "sector perform" rating for the company in a report on Thursday, August 28th. Finally, CIBC upped 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 report on Friday, September 5th. Two investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of C$143.42.

National Bank of Canada Trading Down 1.2%

The business's fifty day moving average price is C$148.38 and its 200 day moving average price is C$135.79. The company has a market capitalization of C$58.57 billion, a P/E ratio of 14.71, a P/E/G ratio of 7.14 and a beta of 1.10.

National Bank of Canada Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, November 1st. Stockholders of record on Monday, September 29th will be issued a dividend of $1.18 per share. This represents a $4.72 dividend on an annualized basis and a dividend yield of 3.2%. National Bank of Canada's payout ratio is 44.93%.

About National Bank of Canada

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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