National Bank of Canada (NA) to Issue Quarterly Dividend of $1.18 on August 1st

National Bank of Canada (TSE:NA) announced a quarterly dividend on Wednesday, May 28th, RTT News reports. Investors of record on Monday, June 30th will be given a dividend of 1.18 per share by the financial services provider on Friday, August 1st. This represents a $4.72 annualized dividend and a yield of 3.53%. This is a 3.5% increase from National Bank of Canada’s previous quarterly dividend of $1.14.

National Bank of Canada Stock Performance

NA stock opened at C$133.57 on Friday. The business has a 50-day simple moving average of C$120.70 and a two-hundred day simple moving average of C$126.01. National Bank of Canada has a 52-week low of C$105.43 and a 52-week high of C$141.15. The company has a market capitalization of C$52.08 billion, a P/E ratio of 11.85, a price-to-earnings-growth ratio of 7.14 and a beta of 1.12.

Insider Transactions at National Bank of Canada

In other National Bank of Canada news, Director Macky Tall purchased 4,182 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was bought at an average price of C$119.14 per share, with a total value of C$498,243.48. Also, Director Yvon Charest bought 362 shares of the company’s stock in a transaction dated Tuesday, May 20th. The stock was bought at an average cost of C$127.93 per share, with a total value of C$46,310.66. In the last ninety days, insiders acquired 7,691 shares of company stock worth $912,137. 0.21% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on NA. Scotiabank raised shares of National Bank of Canada to a “strong-buy” rating in a research report on Thursday, May 15th. CIBC lifted their price objective on National Bank of Canada from C$115.00 to C$125.00 in a report on Thursday, May 22nd. TD Securities lowered their target price on shares of National Bank of Canada from C$135.00 to C$131.00 and set a “hold” rating on the stock in a report on Wednesday, March 5th. Cormark lowered their price target on shares of National Bank of Canada from C$139.00 to C$137.00 in a report on Thursday, February 27th. Finally, Desjardins dropped their price objective on National Bank of Canada from C$140.00 to C$136.00 and set a “hold” rating for the company in a research note on Thursday, February 27th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of C$134.10.

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.