Zacks Investment Research Downgrades National Bank of Canada (NTIOF) to Sell

National Bank of Canada (OTCMKTS:NTIOF) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Thursday, Zacks.com reports.

According to Zacks, “National Bank of Canada provides banking services, including retail, corporate and investment banking. It operates in three business segments, personal and commercial, wealth management, and financial markets. The personal and Commercial Banking segment offers a range of services, including credit, deposit and investment solutions and international trade services. Wealth Management provides financial advice, investment solutions, products and specialized services. Financial Markets provides corporate, public sector and institutional clients with banking and investment banking service. “

Several other brokerages also recently commented on NTIOF. Jefferies Financial Group began coverage on shares of National Bank of Canada in a report on Friday, May 3rd. They issued a “buy” rating for the company. ValuEngine downgraded shares of National Bank of Canada from a “hold” rating to a “sell” rating in a report on Tuesday, April 9th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. National Bank of Canada presently has an average rating of “Hold” and an average price target of $52.00.

National Bank of Canada stock opened at $47.08 on Thursday. National Bank of Canada has a 1-year low of $39.85 and a 1-year high of $51.95. The firm has a market capitalization of $15.73 billion, a price-to-earnings ratio of 10.10 and a beta of 1.27.

National Bank of Canada (OTCMKTS:NTIOF) last released its quarterly earnings data on Wednesday, February 27th. The financial services provider reported $1.13 earnings per share for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.05). National Bank of Canada had a net margin of 19.45% and a return on equity of 18.15%. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.39 billion. On average, equities research analysts anticipate that National Bank of Canada will post 4.76 EPS for the current fiscal year.

National Bank of Canada Company Profile

National Bank of Canada provides various financial products and services to retail, commercial, corporate, and institutional clients in Canada and internationally. It operates through Personal and Commercial, Wealth Management, Financial Markets, and U.S. Specialty Finance and International segments.

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