National Bank of Canada (TSE:NA) Reaches New 52-Week High – Here’s What Happened

National Bank of Canada (TSE:NA) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$190.09 and last traded at C$189.23, with a volume of 2457924 shares changing hands. The stock had previously closed at C$177.46.

Analyst Upgrades and Downgrades

NA has been the topic of several analyst reports. Barclays raised their target price on shares of National Bank of Canada from C$164.00 to C$177.00 in a report on Thursday, February 19th. Canadian Imperial Bank of Commerce raised shares of National Bank of Canada from a “hold” rating to an “outperform” rating and increased their price objective for the company from C$179.00 to C$189.00 in a research report on Friday, February 13th. Raymond James Financial lifted their price objective on shares of National Bank of Canada from C$173.00 to C$179.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 17th. Scotiabank increased their target price on National Bank of Canada from C$184.00 to C$188.00 in a report on Friday, January 9th. Finally, Royal Bank Of Canada lifted their price target on National Bank of Canada from C$149.00 to C$163.00 in a report on Thursday, December 4th. Four research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of C$171.00.

National Bank of Canada Stock Performance

The stock’s 50-day moving average is C$171.87 and its 200 day moving average is C$161.33. The stock has a market capitalization of C$73.86 billion, a PE ratio of 18.79, a P/E/G ratio of 7.14 and a beta of 1.05.

National Bank of Canada (TSE:NA) last released its quarterly earnings data on Wednesday, February 25th. The financial services provider reported C$3.25 earnings per share (EPS) for the quarter. The company had revenue of C$3.89 billion during the quarter. National Bank of Canada had a net margin of 19.69% and a return on equity of 15.43%. Analysts expect that National Bank of Canada will post 10.8360791 earnings per share for the current year.

National Bank of Canada Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, February 1st. Investors of record on Sunday, February 1st were paid a dividend of $1.24 per share. The ex-dividend date was Monday, December 29th. This represents a $4.96 dividend on an annualized basis and a yield of 2.6%. This is a boost from National Bank of Canada’s previous quarterly dividend of $1.18. National Bank of Canada’s dividend payout ratio (DPR) is 46.08%.

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.