National Bank of Canada Announces $1.14 Quarterly Dividend

The National Bank of Canada (TSE:NA – Get Free Report) has announced its quarterly dividend of $1.14, as reported on December 30th. This dividend will be issued to stockholders of record on the same date and is set to be paid on February 1st. With this decision, the annualized dividend now amounts to $4.56, reflecting a dividend yield of 3.45%. Furthermore, the ex-dividend date is also December 30th, marking an increase from the previous dividend of $1.10 that the bank had offered.

Current Stock Performance

As for the stock performance, shares of National Bank of Canada opened at C$132.22 on a recent trading day. The bank boasts a market capitalization of C$45.01 billion, alongside a price-to-earnings ratio of 12.87, a PEG ratio of 7.14, and a beta of 1.12. Currently, the 50-day and 200-day simple moving averages stand at C$134.04 and C$123.60, respectively. The stock has experienced a 52-week range with a low of C$98.04 and a high of C$141.15.

Stock Ratings from Analysts

Several analysts have reviewed the National Bank of Canada shares recently. For instance, CIBC World Markets downgraded the bank from a “strong-buy” rating to a “hold” as of September 20th. Conversely, Canaccord Genuity Group raised the price target for the shares from C$135.00 to C$142.00 on December 5th. Similarly, BMO Capital Markets increased their target price from C$125.00 to C$143.00 on November 18th. However, TD Securities revised their price target lower from C$140.00 to C$138.00 on the same day as Canaccord’s report. Overall, one analyst rates the stock as a sell, ten recommend holding, and two give a buy rating, leading to a consensus rating of “Hold” and a price target average of C$136.10.

Insider Activities

In recent insider transactions, Senior Officer Brigitte Hébert sold 400 shares of the company on December 24th, with an average sale price of C$132.46, accumulating a total of C$52,984.00. Additionally, insider Marie-Chantal Gingras sold 600 shares on the same day at an average price of C$132.79, totaling C$79,674.00. Notably, company insiders own a mere 0.21% of National Bank of Canada's stocks.

About the National Bank of Canada

The National Bank of Canada offers a range of financial services not only to individuals and businesses but also to institutional clients and government entities within Canada and globally. It operates through four main segments: Personal and Commercial, Wealth Management, Financial Markets, and U.S. Specialty Finance and International. The Personal and Commercial segment provides services such as personal banking, commercial banking, various insurance products, along with solutions for deposits, investments, foreign exchange transactions, and many more.

dividend, stocks, financial