National Bank of Canada (TSE:NA) Sets New 1-Year High on Analyst Upgrade

National Bank of Canada (TSE:NA) hit a new 52-week high on Wednesday after Canaccord Genuity Group raised their price target on the stock from C$190.00 to C$200.00. Canaccord Genuity Group currently has a hold rating on the stock. National Bank of Canada traded as high as C$209.92 and last traded at C$209.62, with a volume of 209075 shares changing hands. The stock had previously closed at C$207.04.

Several other research analysts also recently commented on the company. Jefferies Financial Group lifted their price objective on National Bank of Canada from C$172.00 to C$188.00 in a report on Wednesday. National Bank Financial lifted their price objective on National Bank of Canada from C$183.00 to C$196.00 in a research report on Thursday, March 5th. Canadian Imperial Bank of Commerce lifted their price target on shares of National Bank of Canada from C$196.00 to C$209.00 and gave the company a “neutral” rating in a research report on Thursday, May 14th. Barclays lifted their price target on shares of National Bank of Canada from C$177.00 to C$183.00 and gave the company an “equal weight” rating in a research report on Thursday, February 26th. Finally, BMO Capital Markets lifted their price target on shares of National Bank of Canada from C$177.00 to C$195.00 and gave the company an “outperform” rating in a research report on Thursday, February 26th. Three analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of C$197.54.

National Bank of Canada Stock Up 1.0%

The company has a fifty day simple moving average of C$193.36 and a 200 day simple moving average of C$178.72. The firm has a market capitalization of C$80.96 billion, a P/E ratio of 20.17, a P/E/G ratio of 7.14 and a beta of 1.30.

National Bank of Canada (TSE:NA) last released its earnings results on Wednesday, February 25th. The financial services provider reported C$3.25 EPS for the quarter. National Bank of Canada had a return on equity of 12.83% and a net margin of 15.85%.The business had revenue of C$3.89 billion for the quarter. As a group, equities analysts expect that National Bank of Canada will post 10.8360791 earnings per share for the current fiscal year.

National Bank of Canada Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 1st. Shareholders of record on Friday, May 1st were issued a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Monday, March 30th. National Bank of Canada’s payout ratio is 45.71%.

About National Bank of Canada

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.