National Australia Bank (OTCMKTS:NABZY) Downgraded to "Hold" Rating by Zacks Research

Key Points

• Zacks Research downgraded National Australia Bank (OTCMKTS:NABZY) from a "strong-buy" to a "hold" in a recent research note.
• Other brokers have been mixed—UBS and Macquarie recently upgraded NAB to "strong-buy"—but the analyst breakdown (two Strong Buy, one Hold, two Sell) yields a consensus rating of Hold with a $38.00 consensus price target.
• The shares opened at $14.36 and trade in a 52-week range of $10.95–$18.13, with a 50-day/200-day SMA of $15.98/$14.81; reported liquidity ratios are 1.23 (current and quick) and debt-to-equity is 2.88.

National Australia Bank (OTCMKTS:NABZY - Get Free Report) was downgraded by stock analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research note issued to investors on Tuesday,Zacks.com reports.

Several other equities research analysts have also issued reports on the company. UBS Group upgraded National Australia Bank from a "hold" rating to a "strong-buy" rating in a report on Tuesday, January 27th. Macquarie Infrastructure upgraded National Australia Bank from a "hold" rating to a "strong-buy" rating in a report on Wednesday, January 21st. Two analysts have rated the stock with a Strong Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $38.00.

National Australia Bank Price Performance

Shares of National Australia Bank stock opened at $14.36 on Tuesday. 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 has a 52-week low of $10.95 and a 52-week high of $18.13. The stock has a 50-day simple moving average of $15.98 and a 200-day simple moving average of $14.81.

About National Australia Bank

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.

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