National Bank of Canada (OTCMKTS:NTIOF) Sets New 52-Week High - Here's Why

Key Points

• National Bank of Canada (OTCMKTS:NTIOF) reached a new 52-week high on Wednesday, trading as high as $107.49 and closing at $107.46 on a volume of 39,415 shares.
• The company reported earnings per share (EPS) of $2.00 for the last quarter, exceeding expectations of $1.71, despite a revenue of $2.64 billion, below the forecast of $3.33 billion.
• National Bank increased its dividend to $0.8578 per share, representing a yield of 348.0%, up from the previous dividend of $0.80.

National Bank of Canada (OTCMKTS:NTIOF - Get Free Report)'s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as $107.49 and last traded at $107.46, with a volume of 39415 shares traded. The stock had previously closed at $106.65.

Analyst Ratings Changes

A number of brokerages recently commented on NTIOF. Cibc World Mkts raised National Bank of Canada from a "strong sell" rating to a "hold" rating in a report on Friday, August 1st. CIBC reaffirmed an "outperform" rating on shares of National Bank of Canada in a report on Tuesday, May 20th. Finally, Scotiabank raised National Bank of Canada to a "strong-buy" rating in a report on Thursday, May 15th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold".

National Bank of Canada Trading Up 0.9%

The company has a market cap of $42.90 billion, a PE ratio of 14.48 and a beta of 1.02. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.76 and a quick ratio of 0.76. The company has a 50-day moving average of $103.08 and a 200 day moving average of $92.34.

National Bank of Canada (OTCMKTS:NTIOF - Get Free Report) last released its quarterly earnings results on Wednesday, May 28th. The financial services provider reported $2.00 EPS for the quarter, topping the consensus estimate of $1.71 by $0.29. The company had revenue of $2.64 billion during the quarter, compared to analyst estimates of $3.33 billion. National Bank of Canada had a return on equity of 16.83% and a net margin of 18.73%. Analysts predict that National Bank of Canada will post 7.63 earnings per share for the current year.

National Bank of Canada Increases Dividend

The firm also recently announced a dividend, which was paid on Friday, August 1st. Shareholders of record on Tuesday, July 1st were given a dividend of $0.8578 per share. This represents a dividend yield of 348.0%. This is a boost from National Bank of Canada's previous dividend of $0.80. The ex-dividend date was Monday, June 30th. National Bank of Canada's dividend payout ratio (DPR) is presently 45.90%.

National Bank of Canada Company Profile

National Bank of Canada provides financial services to individuals, businesses, institutional clients, and governments in Canada and internationally. It operates through four segments: Personal and Commercial, Wealth Management, Financial Markets, and U.S. Specialty Finance and International. The Personal and Commercial segment offers personal banking services, including transaction solutions, mortgage loans and home equity lines of credit, consumer loans, payment solutions, and savings and investment solutions; various insurance products; and commercial banking services, such as credit, and deposit, investment solutions, international trade, foreign exchange transactions, payroll, cash management, insurance, electronic transactions, and complimentary services.