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

National Bank of Canada (TSE:NA - Get Free Report)'s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$126.56 and traded as high as C$141.37. National Bank of Canada shares last traded at C$140.40, with a volume of 637,703 shares.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Jefferies Financial Group lowered shares of National Bank of Canada from a "buy" rating to a "hold" rating and cut their price target for the stock from C$147.00 to C$126.00 in a report on Monday, April 21st. Cibc World Mkts lowered shares of National Bank of Canada from a "hold" rating to a "strong sell" rating in a report on Friday, April 4th. Scotiabank upgraded National Bank of Canada to a "strong-buy" rating in a research note on Thursday, May 15th. Royal Bank Of Canada raised their target price on National Bank of Canada from C$148.00 to C$152.00 and gave the stock a "sector perform" rating in a research note on Monday, June 9th. Finally, Canaccord Genuity Group increased their price target on National Bank of Canada from C$136.00 to C$138.00 and gave the stock a "hold" rating in a research report on Tuesday, June 24th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, National Bank of Canada presently has an average rating of "Hold" and a consensus target price of C$135.36.

National Bank of Canada Stock Up 0.4%

The company has a market capitalization of C$55.89 billion, a PE ratio of 12.72, a PEG ratio of 7.14 and a beta of 1.12. The stock's fifty day simple moving average is C$135.37 and its 200-day simple moving average is C$126.83.

National Bank of Canada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Friday, August 1st will be paid a $1.18 dividend. This is a boost from National Bank of Canada's previous quarterly dividend of $1.14. This represents a $4.72 annualized dividend and a yield of 3.29%. The ex-dividend date of this dividend is Monday, June 30th. National Bank of Canada's payout ratio is presently 39.03%.

Insider Buying and Selling

In related news, Director Yvon Charest purchased 362 shares of the firm's stock in a transaction on Tuesday, May 20th. The shares were bought at an average price of C$127.93 per share, for a total transaction of C$46,310.66. Insiders own 0.21% of the company's stock.

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.