National Bank of Canada (OTCMKTS:NTIOF) Shares Cross Above 50 Day Moving Average - What's Next?

Key Points

• National Bank of Canada shares moved above their 50-day moving average, trading as high as $159.35 and last changing hands at $158.85, signaling recent upward momentum.
• Analyst sentiment is mixed but generally cautious: two analysts rate the stock a Buy, six rate it Hold, and the overall consensus from MarketBeat is “Hold.”
• The bank posted solid quarterly results, with EPS of $2.36 beating expectations and revenue of $2.87 billion topping estimates, while analysts forecast full-year EPS of 9.21.

National Bank of Canada (OTCMKTS:NTIOF - Get Free Report) shares passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $152.02 and traded as high as $159.35. National Bank of Canada shares last traded at $158.85, with a volume of 18,819 shares trading hands.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Scotiabank reissued an "outperform" rating on shares of National Bank of Canada in a research note on Tuesday, June 16th. Desjardins reiterated a "buy" rating on shares of National Bank of Canada in a report on Thursday, May 28th. Royal Bank Of Canada reissued a "sector perform" rating on shares of National Bank of Canada in a research report on Thursday, May 28th. Raymond James Financial reissued a "market perform" rating on shares of National Bank of Canada in a research report on Tuesday, May 12th. Finally, Zacks Research lowered National Bank of Canada from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 27th. Two investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold".

National Bank of Canada Stock Performance

The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.11. The firm has a market cap of $61.07 billion, a PE ratio of 19.42, a P/E/G ratio of 1.43 and a beta of 0.87. The stock's 50 day moving average price is $152.02 and its 200 day moving average price is $138.57.

National Bank of Canada (OTCMKTS:NTIOF - Get Free Report) last announced its quarterly earnings results on Wednesday, May 27th. The financial services provider reported $2.36 earnings per share for the quarter, topping analysts' consensus estimates of $2.29 by $0.07. National Bank of Canada had a net margin of 14.49% and a return on equity of 15.99%. The firm had revenue of $2.87 billion during the quarter, compared to analysts' expectations of $2.81 billion. As a group, equities analysts forecast that National Bank of Canada will post 9.21 earnings per share for the current fiscal year.

About National Bank of Canada

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.