National Bank of Canada (TSE:NA) Hits New 52-Week High at $123.16

National Bank of Canada (TSE:NA) shares reached a new 52-week high on Wednesday . The stock traded as high as C$123.16 and last traded at C$126.78, with a volume of 528392 shares changing hands. The stock had previously closed at C$124.66.

Analyst Upgrades and Downgrades

NA has been the topic of several research analyst reports. UBS Group set a C$123.00 price objective on National Bank of Canada and gave the company a “buy” rating in a research note on Tuesday, July 2nd. Cormark increased their price target on National Bank of Canada from C$122.00 to C$128.00 in a research note on Thursday, August 29th. Canaccord Genuity Group boosted their price objective on National Bank of Canada from C$113.00 to C$123.00 in a research note on Thursday, August 29th. Jefferies Financial Group increased their target price on shares of National Bank of Canada from C$119.00 to C$126.00 in a research report on Thursday, August 29th. Finally, BMO Capital Markets boosted their price target on shares of National Bank of Canada from C$115.00 to C$125.00 in a research report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of C$121.42.

National Bank of Canada Stock Performance

The stock’s 50 day moving average price is C$115.96 and its 200-day moving average price is C$113.17. The company has a market cap of C$43.50 billion, a PE ratio of 12.34, a PEG ratio of 17.04 and a beta of 1.12.

National Bank of Canada (TSE:NA) last announced its quarterly earnings data on Wednesday, August 28th. The financial services provider reported C$2.68 earnings per share for the quarter, beating the consensus estimate of C$2.50 by C$0.18. National Bank of Canada had a return on equity of 15.18% and a net margin of 34.50%. The firm had revenue of C$2.98 billion during the quarter, compared to the consensus estimate of C$2.95 billion. On average, analysts anticipate that National Bank of Canada will post 10.7004292 EPS for the current year.

National Bank of Canada Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Monday, September 30th will be given a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date is Friday, September 27th. National Bank of Canada’s payout ratio is 42.84%.

Insider Activity

In related news, Director Yvon Charest bought 325 shares of the company’s stock in a transaction dated Monday, August 19th. The stock was purchased at an average cost of C$117.24 per share, with a total value of C$38,103.00. In related news, Senior Officer Lucie Blanchet sold 8,800 shares of the company’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of C$107.59, for a total value of C$946,792.00. Also, Director Yvon Charest acquired 325 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was purchased at an average price of C$117.24 per share, with a total value of C$38,103.00. Insiders own 0.20% of the company’s stock.

About National Bank of Canada

National Bank of Canada provides financial services to individuals, businesses, institutional clients, and governments in Canada and internationally. It operates through four segments: Personal and Commercial, Wealth Management, Financial Markets, and U.S. Specialty Finance and International. The Personal and Commercial segment offers personal banking services, including transaction solutions, mortgage loans and home equity lines of credit, consumer loans, payment solutions, and savings and investment solutions; various insurance products; and commercial banking services, such as credit, and deposit, investment solutions, international trade, foreign exchange transactions, payroll, cash management, insurance, electronic transactions, and complimentary services.