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Summary
- National Bank of Canada stock is up more than four per cent as the lender’s net income surged 25 per cent year-over-year (YoY).
- The lender delivered earnings per share of C$ 2.15 in Q1 FY21, up 29 per cent against EPS of C$ 1,67 in the first quarter of fiscal 2020.
- The stock has risen over 104 per cent from its 52-week low of C$ 38.67 8.4 per cent, and it is currently trading at a 52-week high of C$ 78.03 per piece.
National Bank of Canada (TSX:NA) net income’s is up 25 per cent to C$ 761 million on a year-over-year (YoY) basis for the first fiscal quarter of 2021 (Q1 FY1). Stocks of the bank soared more than 4 per cent in the opening hour on Wednesday.
Diluted earnings per share (EPS) were up 29 per cent YoY to C$2.15 while top line surged by 16 per cent YoY to C$ 2.22 billion.
All-business segments saw a growth in the latest quarter. Net income from financial markets segment amounted to C$ 250 million, a rise of 37 per cent YoY.
Meanwhile, clean energy company Xebec Adsorption Inc. (TSX:XBC) announced that it has obtained credit facilities worth C$ 59.25 million from the bank’s technology and innovation segment.
Let us look at the bank’s stock performance:
National Bank of Canada (TSX: NA)
The large-cap financial stock is up 11.30 per cent in one year, and its market cap is C$ 26.44 billion.
It paid quarterly dividend of C$ 0.71 and currently yields 3.746 per cent.
Shares of the bank have swelled nearly 9.6 per cent year-to-date (YTD), with a price-to-book ratio of 1.964.
Image Source: Kalkine Group @2020
The current earnings per share stand at C$ 5.73, and its return on equity is 14.93 per cent.
The blue-chip stock touched a new 52-week high of C$ 79.03 after announcing its quarterly report. It has zoomed over 104 per cent from its 52-week low of C$ 38.67.
