National Bank of Canada (OTCMKTS:NTIOF) Stock Price Down 5.3% – Here’s Why

National Bank of Canada (OTCMKTS:NTIOF) dropped 5.3% during trading on Wednesday . The stock traded as low as $152.50 and last traded at $152.50. Approximately 1,722 shares were traded during trading, a decline of 97% from the average daily volume of 49,965 shares. The stock had previously closed at $161.10.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. National Bank Financial raised shares of National Bank of Canada from a “hold” rating to an “outperform” rating in a research report on Tuesday, August 18th. 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 Tuesday, August 18th. Raymond James Financial reiterated a “market perform” rating on shares of National Bank of Canada in a research note on Tuesday, May 12th. Royal Bank Of Canada reissued a “sector perform” rating on shares of National Bank of Canada in a report on Thursday, May 28th. Finally, TD Securities restated a “hold” rating on shares of National Bank of Canada in a research note on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy”.

National Bank of Canada Price Performance

The stock has a fifty day moving average of $160.62 and a 200-day moving average of $147.52. 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 capitalization of $58.44 billion, a price-to-earnings ratio of 18.61, a P/E/G ratio of 1.42 and a beta of 0.87.

National Bank of Canada (OTCMKTS:NTIOF) last announced its quarterly earnings results on Wednesday, August 26th. The financial services provider reported $2.43 EPS for the quarter, beating the consensus estimate of $2.32 by $0.11. National Bank of Canada had a net margin of 14.49% and a return on equity of 15.99%. On average, equities research analysts predict that National Bank of Canada will post 9.23 EPS for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in National Bank of Canada stock. Paradigm Capital Management Inc. NY purchased a new position in shares of National Bank of Canada (OTCMKTS:NTIOF) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 7,000 shares of the financial services provider’s stock, valued at approximately $311,000. 0.06% of the stock is currently owned by hedge funds and other institutional investors.

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.