National Bank of Canada (OTCMKTS:NTIOF) Shares Cross Above 50-Day Moving Average After Analyst Downgrade

National Bank of Canada (OTCMKTS:NTIOF)’s share price passed above its 50-day moving average during trading on Tuesday after Zacks Research upgraded the stock from a hold rating to a strong-buy rating. The stock has a 50-day moving average of $156.14 and traded as high as $163.45. National Bank of Canada shares last traded at $160.74, with a volume of 32,619 shares traded.

A number of other research analysts have also recently weighed in on the stock. Canadian Imperial Bank of Commerce raised shares of National Bank of Canada from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 13th. Desjardins raised shares of National Bank of Canada from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, November 11th. Royal Bank Of Canada reiterated a “sector perform” rating on shares of National Bank of Canada in a report on Friday, December 5th. TD Securities restated a “hold” rating on shares of National Bank of Canada in a research note on Thursday, December 4th. Finally, Scotiabank reiterated an “outperform” rating on shares of National Bank of Canada in a research note on Friday, January 9th. One equities research analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

National Bank of Canada Stock Up 0.1%

The company has a market capitalization of $62.21 billion, a price-to-earnings ratio of 19.78, a P/E/G ratio of 1.47 and a beta of 0.87. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.11. The firm has a 50 day moving average price of $156.72 and a two-hundred day moving average price of $143.72.

National Bank of Canada (OTCMKTS:NTIOF) last released its quarterly earnings results on Wednesday, May 27th. The financial services provider reported $2.36 EPS for the quarter, topping the consensus estimate of $2.29 by $0.07. National Bank of Canada had a return on equity of 15.99% and a net margin of 14.49%.The business had revenue of $2.87 billion for the quarter, compared to analysts’ expectations of $2.81 billion. As a group, sell-side analysts expect that National Bank of Canada will post 9.2 earnings per share for the current year.

About National Bank of Canada

National Bank of Canada (OTCMKTS: NTIOF) is a full‑service Canadian financial institution headquartered in Montreal, Quebec. The bank offers a broad range of products and services for personal, commercial and institutional clients, including deposit accounts, mortgages and consumer lending, small‑ and medium‑sized business banking, corporate lending, and cash management solutions.

In addition to traditional banking, National Bank provides wealth management and brokerage services through its private banking and advisory channels, and operates an investment banking and capital markets platform that delivers underwriting, advisory, trading and research services.