National Bank of Canada (TSE:NA) Sets New 1-Year High – What’s Next?

National Bank of Canada (TSE:NA)’s stock price hit a new 52-week high on Monday . The company traded as high as C$226.51 and last traded at C$226.49, with a volume of 283128 shares. The stock had previously closed at C$223.42.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on NA shares. Scotiabank increased their price objective 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 note on Tuesday, June 16th. Desjardins upped their price objective on National Bank of Canada from C$215.00 to C$217.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. TD raised their target price on National Bank of Canada from C$182.00 to C$202.00 and gave the company a “hold” rating in a research note on Tuesday, May 5th. Jefferies Financial Group boosted their price target on shares of National Bank of Canada from C$172.00 to C$188.00 in a report on Wednesday, May 20th. Finally, Canaccord Genuity Group increased their price objective on shares of National Bank of Canada from C$205.00 to C$224.00 and gave the stock a “hold” rating in a report on Tuesday. Three equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of C$201.08.

National Bank of Canada Stock Performance

The stock has a market cap of C$85.86 billion, a price-to-earnings ratio of 19.73, a PEG ratio of 7.14 and a beta of 1.35. The company’s 50 day simple moving average is C$211.18 and its 200 day simple moving average is C$190.67.

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

National Bank of Canada Increases Dividend

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

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.