National Bank of Canada (TSE:NA) Reaches New 12-Month High – Time to Buy?

National Bank of Canada (TSE:NA)’s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as C$225.53 and last traded at C$224.12, with a volume of 377062 shares traded. The stock had previously closed at C$223.10.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on NA. Canaccord Genuity Group upped their price objective on National Bank of Canada from C$204.00 to C$205.00 and gave the stock a “hold” rating in a research report on Friday, June 5th. Raymond James Financial lowered their target price on National Bank of Canada from C$206.50 to C$203.00 and set a “market perform” rating for the company in a research note on Thursday, May 28th. Barclays upped their price target on National Bank of Canada from C$177.00 to C$183.00 and gave the stock an “equal weight” rating in a report on Thursday, February 26th. Scotiabank increased their price target on National Bank of Canada from C$214.00 to C$222.00 and gave the company a “sector outperform” rating in a research report on Tuesday, June 16th. Finally, TD lifted their price objective on National Bank of Canada from C$182.00 to C$202.00 and gave the company a “hold” rating in a research note on Tuesday, May 5th. Three investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of C$199.50.

National Bank of Canada Stock Performance

The firm has a market capitalization of C$86.31 billion, a price-to-earnings ratio of 19.83, a price-to-earnings-growth ratio of 7.14 and a beta of 1.40. The stock’s fifty day moving average price is C$207.20 and its two-hundred day moving average price is C$187.42.

National Bank of Canada (TSE:NA) last issued its earnings results on Wednesday, May 27th. The financial services provider reported C$3.23 EPS for the quarter. National Bank of Canada had a net margin of 16.87% and a return on equity of 13.77%. The firm had revenue of C$3.91 billion during the quarter. Analysts anticipate that National Bank of Canada will post 10.8360791 earnings per share for the current fiscal year.

National Bank of Canada Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, August 1st. Stockholders of record on Saturday, August 1st will be issued a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Monday, June 29th. This is an increase from National Bank of Canada’s previous quarterly dividend of $1.24. National Bank of Canada’s dividend payout ratio (DPR) 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.