Marie-Chantal Gingras Sells 600 Shares of National Bank of Canada (TSE:NA) Stock

On December 24, 2024, Marie-Chantal Gingras, an insider at the National Bank of Canada (TSE:NA), sold 600 shares of the company. The shares were sold at an average price of C$132.79, resulting in a total transaction amount of C$79,674.00.

National Bank of Canada Stock Overview

This past Friday, National Bank of Canada’s stock opened at C$132.22. The bank has a market capitalization of C$45.01 billion and boasts a price-to-earnings (P/E) ratio of 12.87, alongside a price-to-earnings-growth (PEG) ratio of 7.14 and a beta of 1.12, suggesting a moderate level of volatility compared to the market. The company’s 50-day simple moving average stands at C$134.04, while the 200-day simple moving average is at C$123.64. Over the past year, the stock hit a low of C$98.04 and reached a high of C$141.15.

Dividend Announcement

In a positive update for shareholders, National Bank of Canada also recently declared a quarterly dividend to be issued on February 1, 2025. Stockholders on record as of December 30, 2024 will receive a dividend of C$1.14 per share, a notable increase from the prior quarterly dividend of C$1.10. This change reflects an annualized dividend of C$4.56, offering a yield of 3.45%. The ex-dividend date is set for December 30, 2024. Additionally, the company's dividend payout ratio (DPR) currently stands at 42.84%.

Insights from Analysts

Several financial analysts have recently provided updates on the stock's performance. CIBC increased their price target for National Bank of Canada from C$135.00 to C$141.00 as per their research report dated November 26. In another report, Scotiabank raised its price target from C$129.00 to C$154.00 just a day earlier. However, CIBC World Markets downgraded the bank's rating from a “strong-buy” to a “hold” on September 20. Meanwhile, Canaccord Genuity adjusted their price target upward from C$135.00 to C$142.00 on December 5, the same day Royal Bank of Canada modified their target from C$116.00 to C$134.00. Presently, one analyst has given the stock a sell rating, ten have categorized it as a hold, and two have marked it as a buy. MarketBeat.com data indicates that National Bank of Canada has an average rating of “Hold” with a consensus target price standing at C$136.10.

About National Bank of Canada

National Bank of Canada provides a wide range of financial services to individuals, businesses, institutional clients, and governments both within Canada and abroad. The bank operates through four primary segments: Personal and Commercial, Wealth Management, Financial Markets, and U.S. Specialty Finance and International. Its Personal and Commercial segment offers an array of banking services, including transaction solutions, mortgage loans, consumer loans, and various commercial banking services. Furthermore, it provides investment solutions, insurance products, and cash management services, among others.

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