National Bank of Canada (TSE:NA) Sets New 12-Month High – Still a Buy?

National Bank of Canada (TSE:NA) hit a new 52-week high on Tuesday . The stock traded as high as C$225.53 and last traded at C$224.12, with a volume of 377062 shares traded. The stock had previously closed at C$223.10.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on NA shares. TD Securities boosted their price target on shares of National Bank of Canada from C$175.00 to C$182.00 in a report on Thursday, February 26th. Raymond James Financial cut their price objective on shares of National Bank of Canada from C$206.50 to C$203.00 and set a “market perform” rating on the stock in a research report on Thursday, May 28th. BMO Capital Markets boosted their target price on shares of National Bank of Canada from C$177.00 to C$195.00 and gave the company an “outperform” rating in a research note on Thursday, February 26th. Scotiabank upped their target price on shares of National Bank of Canada from C$214.00 to C$222.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, June 16th. Finally, Barclays raised their price target on shares of National Bank of Canada from C$177.00 to C$183.00 and gave the company an “equal weight” rating in a research note on Thursday, February 26th. Three analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, National Bank of Canada has a consensus rating of “Hold” and a consensus target price of C$199.50.

National Bank of Canada Stock Performance

The company’s 50 day moving average price is C$206.10 and its 200-day moving average price is C$186.66. The company has a market cap of C$86.24 billion, a price-to-earnings ratio of 19.82, a PEG ratio of 7.14 and a beta of 1.40.

National Bank of Canada (TSE:NA) last released its earnings results on Wednesday, May 27th. The financial services provider reported C$3.23 EPS for the quarter. The business had revenue of C$3.91 billion during the quarter. National Bank of Canada had a net margin of 16.87% and a return on equity of 13.77%. As a group, sell-side analysts forecast that National Bank of Canada will post 10.8360791 earnings per share for the current year.

National Bank of Canada Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, August 1st. Stockholders of record on Saturday, August 1st will be given a dividend of $1.32 per share. This is a boost from National Bank of Canada’s previous quarterly dividend of $1.24. The ex-dividend date is Monday, June 29th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 2.4%. National Bank of Canada’s payout ratio is currently 42.83%.

National Bank of Canada Company Profile

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.