National Bank of Canada (TSE:NA) Reaches New 12-Month High – Time to Buy?

Shares of National Bank of Canada (TSE:NA) hit a new 52-week high on Wednesday . The company traded as high as C$135.00 and last traded at C$132.65, with a volume of 108719 shares trading hands. The stock had previously closed at C$132.80.

Analyst Ratings Changes

A number of brokerages have recently weighed in on NA. BMO Capital Markets increased their price objective on National Bank of Canada from C$115.00 to C$125.00 in a report on Thursday, August 29th. Desjardins raised their target price on National Bank of Canada from C$116.00 to C$118.00 and gave the stock a “hold” rating in a report on Tuesday, August 6th. Jefferies Financial Group raised their target price on National Bank of Canada from C$119.00 to C$126.00 in a report on Thursday, August 29th. TD Securities raised their target price on National Bank of Canada from C$123.00 to C$129.00 in a report on Thursday, August 29th. Finally, Canaccord Genuity Group raised their target price on National Bank of Canada from C$113.00 to C$123.00 in a report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of C$122.64.

National Bank of Canada Stock Up 0.4 %

The firm has a market cap of C$45.40 billion, a PE ratio of 12.99, a P/E/G ratio of 7.14 and a beta of 1.12. The firm has a 50-day moving average price of C$128.31 and a two-hundred day moving average price of C$118.36.

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

National Bank of Canada Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, September 30th were given 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 3.30%. National Bank of Canada’s dividend payout ratio (DPR) is presently 42.84%.

Insider Activity at National Bank of Canada

In related news, Director Yvon Charest purchased 325 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was purchased at an average price of C$117.24 per share, with a total value of C$38,103.00. Insiders own 0.21% of the company’s stock.

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.