National Bank of Canada (OTCMKTS:NTIOF) Hits New 1-Year High on Better-Than-Expected Earnings

National Bank of Canada (OTCMKTS:NTIOF)’s stock price hit a new 52-week high during mid-day trading on Thursday following a stronger than expected earnings report. The company traded as high as $138.88 and last traded at $138.22, with a volume of 15490 shares traded. The stock had previously closed at $129.9080.

The financial services provider reported $2.34 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.19. The firm had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $3.68 billion. National Bank of Canada had a return on equity of 15.77% and a net margin of 13.60%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on NTIOF. 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 Friday, February 13th. National Bank Financial raised shares of National Bank of Canada from an “underperform” rating to a “buy” rating in a research report on Tuesday, November 11th. Desjardins raised National Bank of Canada from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, November 11th. Scotiabank reaffirmed an “outperform” rating on shares of National Bank of Canada in a report on Friday, January 9th. Finally, Zacks Research raised National Bank of Canada from a “strong sell” rating to a “hold” rating in a report on Thursday, November 13th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, National Bank of Canada presently has an average rating of “Moderate Buy”.

National Bank of Canada Trading Down 0.4%

The company has a 50 day moving average of $125.87 and a 200 day moving average of $116.95. The firm has a market cap of $54.41 billion, a price-to-earnings ratio of 18.71, a price-to-earnings-growth ratio of 1.35 and a beta of 0.90. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.11.

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.