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

Shares of National Bank of Canada (TSE:NA) reached a new 52-week high during mid-day trading on Friday after Barclays raised their price target on the stock from C$164.00 to C$177.00. The company traded as high as C$177.82 and last traded at C$177.62, with a volume of 121889 shares changing hands. The stock had previously closed at C$176.53.

A number of other equities research analysts have also issued reports on the company. TD Securities reduced their target price on National Bank of Canada from C$181.00 to C$175.00 in a research note on Monday, February 9th. Desjardins lifted their price target on shares of National Bank of Canada from C$180.00 to C$182.00 and gave the stock a “buy” rating in a report on Monday, February 9th. Canadian Imperial Bank of Commerce raised shares of National Bank of Canada from a “hold” rating to an “outperform” rating and lifted their target price for the stock from C$179.00 to C$189.00 in a research note on Friday, February 13th. Jefferies Financial Group boosted their price target on National Bank of Canada from C$156.00 to C$165.00 in a report on Wednesday, February 11th. Finally, Canaccord Genuity Group raised their price objective on National Bank of Canada from C$170.00 to C$180.00 and gave the stock a “hold” rating in a report on Thursday, February 12th. Four research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, National Bank of Canada has an average rating of “Hold” and a consensus price target of C$171.00.

National Bank of Canada Price Performance

The company has a market cap of C$69.75 billion, a PE ratio of 17.75, a price-to-earnings-growth ratio of 7.14 and a beta of 1.05. The stock has a fifty day moving average price of C$171.36 and a 200-day moving average price of C$160.47.

National Bank of Canada (TSE:NA) last issued its quarterly earnings results on Wednesday, December 3rd. The financial services provider reported C$2.82 earnings per share for the quarter. The business had revenue of C$3.70 billion for the quarter. National Bank of Canada had a return on equity of 15.43% and a net margin of 19.69%. On average, equities analysts anticipate that National Bank of Canada will post 10.8360791 earnings per share for the current year.

National Bank of Canada Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, February 1st. Stockholders of record on Sunday, February 1st were issued a $1.24 dividend. The ex-dividend date was Monday, December 29th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 2.8%. This is a positive change from National Bank of Canada’s previous quarterly dividend of $1.18. National Bank of Canada’s dividend payout ratio is currently 46.08%.

National Bank of Canada Company Profile

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.