Royal Bank of Canada Forecasts Strong Price Appreciation for National Bank of Canada (TSE:NA) Stock

National Bank of Canada (TSE:NA) had its price objective hoisted by Royal Bank of Canada from C$134.00 to C$145.00 in a report published on Wednesday morning,BayStreet.CA reports. They currently have a sector perform rating on the financial services provider’s stock.

A number of other research analysts have also issued reports on NA. Canaccord Genuity Group boosted their price target on National Bank of Canada from C$135.00 to C$142.00 in a research report on Thursday, December 5th. Cormark decreased their price target on National Bank of Canada from C$145.00 to C$142.00 in a research report on Thursday, December 5th. TD Securities cut their target price on shares of National Bank of Canada from C$140.00 to C$138.00 in a research note on Thursday, December 5th. Barclays cut shares of National Bank of Canada from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 21st. Finally, Scotiabank raised their price target on National Bank of Canada from C$129.00 to C$154.00 in a research note on Monday, November 25th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of C$137.20.

National Bank of Canada Stock Performance

NA stock opened at C$132.27 on Wednesday. The stock has a market capitalization of C$45.02 billion, a price-to-earnings ratio of 12.88, a PEG ratio of 7.14 and a beta of 1.12. The stock’s fifty day moving average is C$134.00 and its two-hundred day moving average is C$124.58. National Bank of Canada has a 1 year low of C$98.04 and a 1 year high of C$141.15.

National Bank of Canada Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, February 1st. Investors of record on Monday, December 30th will be paid a $1.14 dividend. This represents a $4.56 annualized dividend and a dividend yield of 3.45%. The ex-dividend date of this dividend is Monday, December 30th. This is a boost from National Bank of Canada’s previous quarterly dividend of $1.10. National Bank of Canada’s dividend payout ratio (DPR) is presently 42.84%.

Insider Activity

In other National Bank of Canada news, insider Marie-Chantal Gingras sold 600 shares of National Bank of Canada stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of C$132.79, for a total transaction of C$79,674.00. Also, Director Yvon Charest purchased 285 shares of National Bank of Canada stock in a transaction on Tuesday, November 19th. The stock was purchased at an average price of C$133.71 per share, for a total transaction of C$38,107.35. 0.21% of the stock is currently owned by company insiders.

National Bank of Canada Company Profile

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.