National Bank of Canada (TSE:NA) Hits New 52-Week High – Still a Buy?

National Bank of Canada (TSE:NA) reached a new 52-week high during trading on Monday . The stock traded as high as C$226.51 and last traded at C$226.49, with a volume of 283128 shares trading hands. The stock had previously closed at C$223.42.

Wall Street Analyst Weigh In

NA has been the subject of a number of research reports. Canadian Imperial Bank of Commerce upped their target price on shares of National Bank of Canada from C$209.00 to C$221.00 and gave the stock a “neutral” rating in a report on Thursday, May 28th. TD boosted their price target on shares of National Bank of Canada from C$182.00 to C$202.00 and gave the stock a “hold” rating in a research report on Tuesday, May 5th. Scotiabank upped their price objective on shares of National Bank of Canada from C$214.00 to C$222.00 and gave the company a “sector outperform” rating in a research note on Tuesday, June 16th. Raymond James Financial cut their price objective on shares of National Bank of Canada from C$206.50 to C$203.00 and set a “market perform” rating for the company in a report on Thursday, May 28th. Finally, Desjardins raised their target price on shares of National Bank of Canada from C$215.00 to C$217.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Three research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of C$199.50.

National Bank of Canada Trading Up 1.3%

The firm has a fifty day moving average price of C$210.17 and a 200 day moving average price of C$189.90. The firm has a market cap of C$87.19 billion, a PE ratio of 20.03, a price-to-earnings-growth ratio of 7.14 and a beta of 1.35.

National Bank of Canada (TSE:NA) last announced its quarterly earnings data on Wednesday, May 27th. The financial services provider reported C$3.23 earnings per share (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. As a group, equities analysts predict 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 declared a quarterly dividend, which will be paid on Saturday, August 1st. Stockholders of record on Saturday, August 1st will be paid a $1.32 dividend. This is a positive change from National Bank of Canada’s previous quarterly dividend of $1.24. The ex-dividend date of this dividend is Monday, June 29th. This represents a $5.28 annualized dividend and a dividend yield of 2.3%. National Bank of Canada’s dividend payout ratio is currently 42.83%.

National Bank of Canada Company Profile

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.