National Bank of Canada (OTCMKTS:NTIOF) Share Price Passes Above Fifty Day Moving Average After Analyst Downgrade

National Bank of Canada (OTCMKTS:NTIOF) crossed 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.

A number of other equities research analysts have also issued reports 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 report on Friday, February 13th. Desjardins upgraded National Bank of Canada from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, November 11th. National Bank Financial upgraded shares of National Bank of Canada from an “underperform” rating to a “buy” rating in a research note on Tuesday, November 11th. Raymond James Financial reissued a “market perform” rating on shares of National Bank of Canada in a research report on Friday, February 13th. Finally, TD Securities reaffirmed a “hold” rating on shares of National Bank of Canada in a research report on Thursday, December 4th. One investment analyst has rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, National Bank of Canada currently has a consensus rating of “Hold”.

National Bank of Canada Stock Up 0.1%

The company has a current ratio of 0.74, a quick 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 200-day moving average price of $143.72. The firm has a market cap 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.

National Bank of Canada (OTCMKTS:NTIOF) last announced its earnings results on Wednesday, May 27th. The financial services provider reported $2.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.07. The company had revenue of $2.87 billion during the quarter, compared to analysts’ expectations of $2.81 billion. National Bank of Canada had a net margin of 14.49% and a return on equity of 15.99%. On average, equities analysts forecast that National Bank of Canada will post 9.2 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.