National Bank of Canada (TSE:NA) Reaches New 12-Month High Following Analyst Upgrade

National Bank of Canada (TSE:NA)’s stock price hit a new 52-week high during mid-day trading on Monday after Canaccord Genuity Group raised their price target on the stock from C$123.00 to C$135.00. The company traded as high as C$135.21 and last traded at C$135.09, with a volume of 205230 shares trading hands. The stock had previously closed at C$133.67.

A number of other brokerages have also recently commented on NA. Scotiabank upped their price target on National Bank of Canada from C$120.00 to C$129.00 in a research report on Thursday, August 29th. Desjardins upped their price objective on shares of National Bank of Canada from C$116.00 to C$118.00 and gave the company a “hold” rating in a report on Tuesday, August 6th. Cibc World Mkts downgraded shares of National Bank of Canada from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 20th. BMO Capital Markets lifted their price objective on shares of National Bank of Canada from C$125.00 to C$143.00 in a research note on Monday. Finally, TD Securities increased their target price on National Bank of Canada from C$129.00 to C$140.00 in a research report on Friday, November 15th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of C$126.36.

Insider Activity at National Bank of Canada

In related news, Director Yvon Charest purchased 285 shares of National Bank of Canada stock in a transaction that occurred on Tuesday, November 19th. The shares were acquired at an average cost of C$133.71 per share, for a total transaction of C$38,107.35. 0.21% of the stock is owned by insiders.

National Bank of Canada Stock Performance

The business has a 50-day simple moving average of C$129.92 and a 200 day simple moving average of C$119.66. The firm has a market cap of C$46.12 billion, a P/E ratio of 13.19, a price-to-earnings-growth ratio of 7.14 and a beta of 1.12.

National Bank of Canada (TSE:NA) last issued its quarterly earnings data on Wednesday, August 28th. The financial services provider reported C$2.68 EPS for the quarter, topping the consensus estimate of C$2.50 by C$0.18. The business had revenue of C$2.98 billion during the quarter, compared to analyst estimates of C$2.95 billion. National Bank of Canada had a net margin of 34.50% and a return on equity of 15.18%. On average, research analysts expect that National Bank of Canada will post 10.8360791 EPS for the current year.

National Bank of Canada Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Monday, September 30th were issued a $1.10 dividend. The ex-dividend date was Friday, September 27th. This represents a $4.40 dividend on an annualized basis and a yield of 3.25%. National Bank of Canada’s dividend payout ratio (DPR) is 42.84%.

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.