National Bank of Canada (TSE:NA) Reaches New 52-Week High After Insider Buying Activity

National Bank of Canada (TSE:NAGet Rating) hit a new 52-week high on Tuesday following insider buying activity. The stock traded as high as C$25.97 and last traded at C$98.54, with a volume of 1192220 shares. The stock had previously closed at C$97.39.

Specifically, Director Laurent Ferreira purchased 2,000 shares of the firm’s stock in a transaction dated Friday, August 26th. The shares were bought at an average price of C$89.70 per share, for a total transaction of C$179,400.00. Following the purchase, the director now owns 73,400 shares in the company, valued at approximately C$6,583,980. In other National Bank of Canada news, Director Laurent Ferreira purchased 2,000 shares of the firm’s stock in a transaction dated Friday, August 26th. The shares were bought at an average price of C$89.70 per share, for a total transaction of C$179,400.00. Following the purchase, the director now owns 73,400 shares in the company, valued at approximately C$6,583,980. Also, Director Yvon Charest acquired 348 shares of National Bank of Canada stock in a transaction that occurred on Monday, November 21st. The shares were purchased at an average price of C$96.03 per share, for a total transaction of C$33,418.44. Following the transaction, the director now directly owns 15,864 shares in the company, valued at C$1,523,419.92.

Wall Street Analyst Weigh In

Several research analysts have commented on NA shares. Canaccord Genuity Group cut their target price on National Bank of Canada from C$101.00 to C$100.00 in a report on Thursday, August 25th. CSFB lifted their target price on National Bank of Canada from C$106.00 to C$111.00 in a report on Tuesday. CIBC cut their target price on National Bank of Canada from C$104.00 to C$100.00 in a report on Wednesday, September 7th. Keefe, Bruyette & Woods lifted their target price on National Bank of Canada from C$100.00 to C$106.00 in a report on Friday, September 2nd. Finally, Credit Suisse Group lifted their target price on National Bank of Canada to C$111.00 in a report on Tuesday. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of C$105.83.

National Bank of Canada Trading Up 1.2 %

The business has a fifty day simple moving average of C$90.67 and a 200 day simple moving average of C$90.27. The stock has a market capitalization of C$33.16 billion and a P/E ratio of 10.12.

National Bank of Canada (TSE:NAGet Rating) last issued its quarterly earnings data on Wednesday, August 24th. The financial services provider reported C$2.35 EPS for the quarter, topping analysts’ consensus estimates of C$2.27 by C$0.08. The company had revenue of C$2.41 billion for the quarter, compared to the consensus estimate of C$2.45 billion. As a group, research analysts forecast that National Bank of Canada will post 9.8199999 earnings per share for the current year.

National Bank of Canada Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 1st. Stockholders of record on Monday, September 26th were issued a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 3.73%. The ex-dividend date was Friday, September 23rd. National Bank of Canada’s dividend payout ratio is presently 34.60%.

About National Bank of Canada

(Get Rating)

National Bank of Canada provides various financial products and services to retail, commercial, corporate, and institutional clients in Canada and internationally. It operates through four segments: Personal and Commercial, Wealth Management, Financial Markets, and U.S. Specialty Finance and International.

Further Reading

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