National Bank of Canada (OTCMKTS:NTIOF) Hits New 12-Month High - What's Next?

Key Points

• National Bank of Canada hit a new 52-week high, trading as high as $164.62 during Tuesday’s session, above its previous close of $161.49.
• Analyst sentiment remains mostly cautious: the stock has an average rating of “Hold”, with two Buy ratings and six Hold ratings after several recent rating changes.
• The bank’s latest quarterly results beat expectations, with EPS of $2.36 versus $2.29 expected and revenue of $2.87 billion versus $2.81 billion forecast.

National Bank of Canada (OTCMKTS:NTIOF - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $164.62 and last traded at $164.62, with a volume of 1817 shares trading hands. The stock had previously closed at $161.49.

Wall Street Analysts Forecast Growth

A number of analysts have commented on NTIOF shares. Raymond James Financial reaffirmed a "market perform" rating on shares of National Bank of Canada in a report on Tuesday, May 12th. Zacks Research downgraded shares of National Bank of Canada from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 27th. Scotiabank reissued an "outperform" rating on shares of National Bank of Canada in a report on Tuesday, June 16th. Royal Bank Of Canada restated a "sector perform" rating on shares of National Bank of Canada in a research report on Thursday, May 28th. Finally, National Bank Financial downgraded National Bank of Canada from a "buy" rating to a "neutral" rating in a research note on Wednesday, May 13th. Two research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold".

National Bank of Canada Stock Performance

The firm's 50 day simple moving average is $152.51 and its 200 day simple moving average is $139.05. The firm has a market cap of $63.10 billion, a PE ratio of 20.06, a PEG ratio of 1.47 and a beta of 0.87. 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 (OTCMKTS:NTIOF - Get Free Report) last issued its quarterly earnings data on Wednesday, May 27th. The financial services provider reported $2.36 earnings per share for the quarter, beating analysts' consensus estimates of $2.29 by $0.07. The firm had revenue of $2.87 billion during the quarter, compared to analyst estimates of $2.81 billion. National Bank of Canada had a return on equity of 15.99% and a net margin of 14.49%. On average, research analysts forecast that National Bank of Canada will post 9.21 EPS for the current fiscal year.

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.

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