National Bank of Canada (OTCMKTS:NTIOF) Downgraded to “Hold” Rating by Desjardins

Desjardins cut shares of National Bank of Canada (OTCMKTS:NTIOF) from a moderate buy rating to a hold rating in a report published on Tuesday,Zacks.com reports.

Other analysts have also recently issued reports about the company. Scotiabank restated an “outperform” rating on shares of National Bank of Canada in a research report on Tuesday, June 16th. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of National Bank of Canada in a research report on Thursday, May 28th. Zacks Research cut National Bank of Canada from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. National Bank Financial downgraded shares of National Bank of Canada from a “neutral” rating to a “hold” rating in a research note on Tuesday. Finally, Raymond James Financial reissued a “market perform” rating on shares of National Bank of Canada in a research note on Tuesday, May 12th. One investment analyst has rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold”.

National Bank of Canada Stock Performance

Shares of NTIOF stock opened at $161.63 on Tuesday. National Bank of Canada has a 52-week low of $103.35 and a 52-week high of $171.47. 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 stock has a market cap of $62.14 billion, a PE ratio of 19.76, a price-to-earnings-growth ratio of 1.46 and a beta of 0.87. The business has a 50-day simple moving average of $156.44 and a 200-day simple moving average of $143.43.

National Bank of Canada (OTCMKTS:NTIOF) last announced its quarterly earnings results on Wednesday, May 27th. The financial services provider reported $2.36 earnings per share for the quarter, beating 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 company had revenue of $2.87 billion during the quarter, compared to analysts’ expectations of $2.81 billion. On average, equities analysts expect that National Bank of Canada will post 9.21 EPS 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.