National Bank of Canada (TSE:NA) Shares Cross Above 200-Day Moving Average – Here’s What Happened

National Bank of Canada (TSE:NA)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$137.08 and traded as high as C$152.77. National Bank of Canada shares last traded at C$151.72, with a volume of 1,164,934 shares.

Analyst Ratings Changes

Several research analysts have commented on the company. CIBC raised their price objective on National Bank of Canada from C$151.00 to C$154.00 and gave the company a “neutral” rating in a research report on Friday, September 5th. Canaccord Genuity Group raised their target price on National Bank of Canada from C$136.00 to C$138.00 and gave the company a “hold” rating in a report on Tuesday, June 24th. Jefferies Financial Group decreased their price target on National Bank of Canada from C$157.00 to C$153.00 and set a “hold” rating for the company in a report on Thursday, August 28th. Scotiabank increased their price objective on shares of National Bank of Canada from C$150.00 to C$159.00 in a research report on Friday, October 10th. Finally, Royal Bank Of Canada reduced their target price on shares of National Bank of Canada from C$152.00 to C$148.00 and set a “sector perform” rating on the stock in a research report on Thursday, August 28th. Two investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of C$144.42.

National Bank of Canada Stock Performance

The firm has a fifty day simple moving average of C$149.13 and a 200-day simple moving average of C$137.08. The company has a market capitalization of C$59.50 billion, a PE ratio of 14.95, a P/E/G ratio of 7.14 and a beta of 1.10.

National Bank of Canada Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Saturday, November 1st. Investors of record on Monday, September 29th will be issued a $1.18 dividend. This represents a $4.72 annualized dividend and a yield of 3.1%. National Bank of Canada’s dividend payout ratio is presently 44.93%.

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.