National Australia Bank (OTCMKTS:NABZY) Shares Gap Down - Here's What Happened

Key Points

• Shares of National Australia Bank gapped down pre-market from a $14.74 close to a $13.92 open and last traded at $14.69 on a light volume of 3,890 shares.
• Several brokers — including Macquarie Infrastructure, Zacks and UBS — recently upgraded NAB to Strong Buy; MarketBeat shows a consensus of Moderate Buy with a target price of $38.00, though two analysts still rate the stock a Sell.
• Key technicals and metrics: 50-day moving average $15.97 vs. 200-day $14.73, with a debt-to-equity ratio of 2.88 and quick/current ratios of 1.23.

Shares of National Australia Bank Ltd. (OTCMKTS:NABZY - Get Free Report) gapped down prior to trading on Monday . The stock had previously closed at $14.74, but opened at $13.92. National Australia Bank shares last traded at $14.69, with a volume of 3,890 shares trading hands.

Analyst Ratings Changes

Several brokerages recently weighed in on NABZY. Macquarie Infrastructure upgraded National Australia Bank from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, January 21st. Zacks Research raised National Australia Bank from a "hold" rating to a "strong-buy" rating in a report on Monday, January 12th. Finally, UBS Group raised National Australia Bank from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, January 27th. Three analysts have rated the stock with a Strong Buy rating and two have given a Sell rating to the company's stock. According to MarketBeat, National Australia Bank has an average rating of "Moderate Buy" and a consensus target price of $38.00.

National Australia Bank Price Performance

The firm's 50-day moving average is $15.97 and its two-hundred day moving average is $14.73. The company has a debt-to-equity ratio of 2.88, a quick ratio of 1.23 and a current ratio of 1.23.

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.

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