Royal Bank of Canada Issues Positive Forecast for National Bank of Canada (TSE:NA) Stock Price

National Bank of Canada (TSE:NA) had its price objective raised by Royal Bank of Canada from C$116.00 to C$134.00 in a research note released on Thursday morning,BayStreet.CA reports.

A number of other analysts have also recently weighed in on the stock. CIBC increased their price objective on shares of National Bank of Canada from C$135.00 to C$141.00 in a report on Tuesday, November 26th. Barclays cut National Bank of Canada from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 21st. Cibc World Mkts lowered National Bank of Canada from a “strong-buy” rating to a “hold” rating in a report on Friday, September 20th. Canaccord Genuity Group lifted their target price on National Bank of Canada from C$123.00 to C$135.00 in a research note on Tuesday, November 19th. Finally, Jefferies Financial Group boosted their price target on National Bank of Canada from C$119.00 to C$126.00 in a research report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of C$136.10.

National Bank of Canada Price Performance

Shares of NA opened at C$135.18 on Thursday. National Bank of Canada has a 12 month low of C$93.31 and a 12 month high of C$141.15. The stock has a fifty day moving average price of C$132.61 and a 200 day moving average price of C$121.64. The company has a market cap of C$46.01 billion, a P/E ratio of 13.16, a PEG ratio of 7.14 and a beta of 1.12.

National Bank of Canada Increases Dividend

The company 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 dividend of $1.14 per share. This represents a $4.56 annualized dividend and a yield of 3.37%. 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 currently 42.84%.

Insiders Place Their Bets

In related news, Director Yvon Charest bought 285 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were bought at an average cost of C$133.71 per share, with a total value of C$38,107.35. 0.21% of the stock is owned by company insiders.

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.