National Australia Bank (OTCMKTS:NABZY) Reaches New 1-Year High – Time to Buy?

National Australia Bank Ltd. (OTCMKTS:NABZY) hit a new 52-week high during trading on Tuesday . The stock traded as high as $17.45 and last traded at $17.00, with a volume of 182363 shares traded. The stock had previously closed at $17.20.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on NABZY. Macquarie Infrastructure raised shares of National Australia Bank from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 21st. Zacks Research upgraded shares of National Australia Bank from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 12th. Finally, UBS Group raised shares of National Australia Bank from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 27th. Three investment analysts have rated the stock with a Strong Buy rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, National Australia Bank currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.00.

National Australia Bank Stock Performance

The company’s fifty day moving average is $15.00 and its 200 day moving average is $14.32. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 2.88.

National Australia Bank Company Profile

National Australia Bank (OTCMKTS: NABZY) is one of Australia’s largest banking groups, offering a broad range of financial services to retail, small business, corporate and institutional customers. Its core activities include personal and business banking — such as deposits, home and business lending, credit cards and payment services — as well as wealth management, insurance, markets and specialist lending. The bank provides transaction and cash management solutions, financing and advisory services to corporate clients and institutional investors.

Headquartered in Melbourne, NAB traces its corporate origins to a 1982 merger between the National Bank of Australasia and the Commercial Banking Company of Sydney, with precursor institutions dating to the 19th century.