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

National Bank of Canada (TSE:NA) shares reached a new 52-week high during trading on Monday after BMO Capital Markets raised their price target on the stock from C$125.00 to C$143.00. The stock traded as high as C$135.21 and last traded at C$135.09, with a volume of 205230 shares. The stock had previously closed at C$133.67.

Other equities analysts have also recently issued research reports about the stock. Desjardins lifted their target price on shares of National Bank of Canada from C$116.00 to C$118.00 and gave the stock a “hold” rating in a research report on Tuesday, August 6th. Royal Bank of Canada lifted their target price on shares of National Bank of Canada from C$113.00 to C$116.00 in a report on Thursday, August 29th. TD Securities boosted their price objective on shares of National Bank of Canada from C$129.00 to C$140.00 in a report on Friday. CIBC lowered shares of National Bank of Canada from an “outperform” rating to a “neutral” rating in a research report on Friday, September 20th. Finally, Canaccord Genuity Group lifted their price target on shares of National Bank of Canada from C$113.00 to C$123.00 in a report on Thursday, August 29th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of C$125.27.

National Bank of Canada Stock Performance

The stock has a fifty day moving average price of C$129.70 and a 200-day moving average price of C$119.55. The firm has a market capitalization of C$46.02 billion, a PE ratio of 13.14, a P/E/G ratio of 7.14 and a beta of 1.12.

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

National Bank of Canada Announces Dividend

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