National Bank of Canada (OTCMKTS:NTIOF) Sees Large Drop in Short Interest

National Bank of Canada (OTCMKTS:NTIOF - Get Free Report) saw a significant decline in short interest during the month of April. As of April 15th, there was short interest totalling 9,783,400 shares, a decline of 41.7% from the March 31st total of 16,781,600 shares. Currently, 2.5% of the shares of the stock are sold short. Based on an average trading volume of 118,500 shares, the short-interest ratio is currently 82.6 days.

Analyst Ratings Changes

Several equities research analysts have commented on NTIOF shares. National Bankshares cut shares of National Bank of Canada from a "speculative buy" rating to an "underperform" rating in a research report on Friday, April 4th. CIBC reaffirmed a "neutral" rating on shares of National Bank of Canada in a report on Wednesday, March 5th. Cibc World Mkts downgraded shares of National Bank of Canada from a "hold" rating to a "strong sell" rating in a report on Friday, April 4th. Finally, Cormark downgraded National Bank of Canada from a "moderate buy" rating to a "hold" rating in a research report on Friday, February 21st. Two investment analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold".

National Bank of Canada Price Performance

Shares of NTIOF traded up $0.68 during midday trading on Tuesday, hitting $86.12. 4,164 shares of the company traded hands, compared to its average volume of 85,494. The firm has a 50 day moving average of $82.64 and a 200-day moving average of $89.50. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.76 and a current ratio of 0.76. The stock has a market cap of $33.70 billion, a price-to-earnings ratio of 10.97 and a beta of 0.95. National Bank of Canada has a 52 week low of $74.21 and a 52 week high of $100.08.

National Bank of Canada Cuts Dividend

The firm also recently disclosed a dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 1st will be issued a $0.7975 dividend. This represents a dividend yield of 3.86%. The ex-dividend date is Monday, March 31st. National Bank of Canada's dividend payout ratio (DPR) is currently 40.05%.

About National Bank of Canada

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.

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