National Bank of Canada (OTCMKTS:NTIOF) Upgraded by Canadian Imperial Bank of Commerce to Strong-Buy Rating

National Bank of Canada (OTCMKTS:NTIOF) was upgraded by analysts at Canadian Imperial Bank of Commerce from a “hold” rating to a “strong-buy” rating in a research report issued on Tuesday,Zacks.com reports.

A number of other brokerages also recently weighed in on NTIOF. TD Securities reaffirmed a “hold” rating on shares of National Bank of Canada in a research report on Wednesday, August 12th. Zacks Research downgraded shares of National Bank of Canada from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Royal Bank Of Canada reissued a “sector perform” rating on shares of National Bank of Canada in a research report on Thursday, May 28th. National Bank Financial upgraded shares of National Bank of Canada from a “hold” rating to an “outperform” rating in a report on Tuesday. Finally, Scotiabank reiterated an “outperform” rating on shares of National Bank of Canada in a research note on Tuesday, June 16th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, National Bank of Canada has a consensus rating of “Moderate Buy”.

National Bank of Canada Stock Down 2.4%

Shares of National Bank of Canada stock opened at $160.54 on Tuesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.74 and a quick ratio of 0.74. The stock has a market cap of $61.63 billion, a price-to-earnings ratio of 19.63, a PEG ratio of 1.49 and a beta of 0.87. The firm’s 50-day moving average is $159.98 and its two-hundred day moving average is $146.46. National Bank of Canada has a 1 year low of $103.35 and a 1 year high of $171.47.

National Bank of Canada (OTCMKTS:NTIOF) last posted its earnings results on Wednesday, May 27th. The financial services provider reported $2.36 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $2.81 billion. As a group, research analysts expect that National Bank of Canada will post 9.21 earnings per share for the current fiscal year.

Institutional Investors Weigh In On National Bank of Canada

A hedge fund recently bought a new stake in National Bank of Canada stock. Public Employees Retirement System of Ohio purchased a new position in National Bank of Canada (OTCMKTS:NTIOF) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 63,587 shares of the financial services provider’s stock, valued at approximately $2,825,000. 0.06% of the stock is owned by institutional investors.

National Bank of Canada Company Profile

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.