National Bank of Canada (TSE:NA) Shares Pass Above 200 Day Moving Average of $110.00

National Bank of Canada (TSE:NA) shares crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$110.00 and traded as high as C$115.65. National Bank of Canada shares last traded at C$115.21, with a volume of 1,040,123 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Cormark lifted their target price on shares of National Bank of Canada from C$119.00 to C$120.00 in a research note on Thursday, May 30th. TD Securities boosted their price objective on shares of National Bank of Canada from C$118.00 to C$121.00 in a research note on Friday, May 10th. Canaccord Genuity Group boosted their price objective on shares of National Bank of Canada from C$109.00 to C$117.00 and gave the stock a “hold” rating in a research note on Thursday, May 30th. Jefferies Financial Group dropped their price objective on shares of National Bank of Canada from C$123.00 to C$121.00 and set a “hold” rating on the stock in a research note on Thursday, June 6th. Finally, Scotiabank dropped their price objective on shares of National Bank of Canada from C$119.00 to C$116.00 and set a “hold” rating on the stock in a research note on Tuesday, June 18th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of C$114.62.

National Bank of Canada Stock Down 2.0 %

The firm’s fifty day simple moving average is C$112.15 and its 200-day simple moving average is C$110.09. The firm has a market capitalization of C$38.36 billion, a PE ratio of 11.88, a PEG ratio of 17.04 and a beta of 1.12.

National Bank of Canada (TSE:NA) last released its quarterly earnings data on Wednesday, May 29th. The financial services provider reported C$2.54 earnings per share for the quarter, beating the consensus estimate of C$2.43 by C$0.11. National Bank of Canada had a net margin of 34.22% and a return on equity of 14.73%. The firm had revenue of C$2.84 billion during the quarter, compared to analysts’ expectations of C$2.89 billion. As a group, analysts predict that National Bank of Canada will post 9.8686007 earnings per share for the current year.

National Bank of Canada Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Monday, June 24th were issued a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend yield of 3.90%. This is a boost from National Bank of Canada’s previous quarterly dividend of $1.06. The ex-dividend date was Monday, June 24th. National Bank of Canada’s payout ratio is presently 44.63%.

Insider Activity

In other National Bank of Canada news, Senior Officer Lucie Blanchet sold 8,800 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of C$107.59, for a total transaction of C$946,792.00. In other National Bank of Canada news, Senior Officer Lucie Blanchet sold 8,800 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of C$107.59, for a total transaction of C$946,792.00. Also, Director Yvon Charest bought 324 shares of National Bank of Canada stock in a transaction on Tuesday, May 21st. The shares were acquired at an average cost of C$116.20 per share, with a total value of C$37,648.80. 0.20% of the stock is owned by corporate insiders.

About National Bank of Canada

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.