National Bank of Canada (OTCMKTS:NTIOF) Shares Gap Down – Here’s Why

Shares of National Bank of Canada (OTCMKTS:NTIOF) gapped down before the market opened on Thursday . The stock had previously closed at $161.10, but opened at $154.04. National Bank of Canada shares last traded at $155.22, with a volume of 504 shares traded.

Analyst Ratings Changes

NTIOF has been the topic of a number of research analyst reports. National Bank Financial upgraded National Bank of Canada from a “hold” rating to an “outperform” rating in a research report on Tuesday, August 18th. Scotiabank reissued an “outperform” rating on shares of National Bank of Canada in a research report on Thursday. Raymond James Financial restated a “market perform” rating on shares of National Bank of Canada in a report on Tuesday, May 12th. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of National Bank of Canada in a research report on Thursday. Finally, Desjardins cut shares of National Bank of Canada from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, August 4th. One equities research 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 stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy”.

National Bank of Canada Stock Performance

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 firm has a 50-day moving average price of $160.48 and a 200 day moving average price of $147.98. The firm has a market capitalization of $58.59 billion, a PE ratio of 17.69, a price-to-earnings-growth ratio of 1.31 and a beta of 0.87.

National Bank of Canada (OTCMKTS:NTIOF) last posted its quarterly earnings data on Wednesday, August 26th. The financial services provider reported $2.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.32 by $0.11. National Bank of Canada had a return on equity of 16.74% and a net margin of 17.22%.The firm had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.75 billion. Research analysts expect that National Bank of Canada will post 9.29 earnings per share for the current year.

Institutional Trading of National Bank of Canada

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 the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 7,000 shares of the financial services provider’s stock, valued at approximately $311,000. 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.