National Bank of Canada (TSE:NA – Get Free Report) hit a new 52-week high during mid-day trading on Monday . The company traded as high as C$226.51 and last traded at C$226.49, with a volume of 283128 shares. The stock had previously closed at C$223.42.
Analyst Ratings Changes
Several analysts recently commented on NA shares. Jefferies Financial Group raised their price target on shares of National Bank of Canada from C$172.00 to C$188.00 in a research report on Wednesday, May 20th. Royal Bank Of Canada lowered their target price on shares of National Bank of Canada from C$193.00 to C$180.00 and set a “sector perform” rating on the stock in a research note on Wednesday, March 25th. Canadian Imperial Bank of Commerce lifted their price target on National Bank of Canada from C$209.00 to C$221.00 and gave the company a “neutral” rating in a research note on Thursday, May 28th. Desjardins upped their price target on National Bank of Canada from C$215.00 to C$217.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Finally, Scotiabank raised their price objective on National Bank of Canada from C$214.00 to C$222.00 and gave the company a “sector outperform” rating in a report on Tuesday, June 16th. Three investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of C$199.50.
Check Out Our Latest Research Report on National Bank of Canada
National Bank of Canada Price Performance
National Bank of Canada (TSE:NA – Get Free Report) last released its earnings results on Wednesday, May 27th. The financial services provider reported C$3.23 EPS for the quarter. The business had revenue of C$3.91 billion during the quarter. National Bank of Canada had a net margin of 16.87% and a return on equity of 13.77%. Analysts forecast that National Bank of Canada will post 10.8360791 earnings per share for the current year.
National Bank of Canada Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Saturday, August 1st. Shareholders of record on Saturday, August 1st will be issued a dividend of $1.32 per share. The ex-dividend date of this dividend is Monday, June 29th. This is an increase from National Bank of Canada’s previous quarterly dividend of $1.24. This represents a $5.28 dividend on an annualized basis and a dividend yield of 2.3%. National Bank of Canada’s payout ratio is currently 42.83%.
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.
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