National Bank of Canada (OTCMKTS:NTIOF) Shares Gap Down - Should You Sell?

Key Points

• National Bank of Canada shares opened lower, falling from a previous close of $160.545 to $156.86 before recovering to $160.36 on light trading volume.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating. CIBC upgraded the stock to “strong buy,” while TD Securities maintained a “hold” rating and Zacks Research recently downgraded it to “hold.”
• The bank exceeded quarterly expectations, reporting $2.36 in earnings per share versus a $2.29 consensus and revenue of $2.87 billion against estimates of $2.81 billion.

National Bank of Canada (OTCMKTS:NTIOF - Get Free Report)'s stock price gapped down before the market opened on Friday . The stock had previously closed at $160.5450, but opened at $156.86. National Bank of Canada shares last traded at $160.36, with a volume of 712 shares traded.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Canadian Imperial Bank of Commerce raised shares of National Bank of Canada from a "hold" rating to a "strong-buy" rating in a research note on Tuesday. TD Securities reissued a "hold" rating on shares of National Bank of Canada in a research note on Wednesday, August 12th. Royal Bank Of Canada restated a "sector perform" rating on shares of National Bank of Canada in a report on Thursday, May 28th. Scotiabank reaffirmed an "outperform" rating on shares of National Bank of Canada in a research report on Tuesday, June 16th. Finally, Zacks Research downgraded National Bank of Canada from a "strong-buy" rating to a "hold" rating in a report on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, National Bank of Canada has a consensus rating of "Moderate Buy".

National Bank of Canada Stock Performance

The stock's 50-day moving average price is $160.14 and its 200 day moving average price is $146.72. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.74 and a quick ratio of 0.74. The firm has a market cap of $60.98 billion, a P/E ratio of 19.42, a price-to-earnings-growth ratio of 1.46 and a beta of 0.87.

National Bank of Canada (OTCMKTS:NTIOF - Get Free Report) last released its earnings results 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. National Bank of Canada had a net margin of 14.49% and a return on equity of 15.99%. The business had revenue of $2.87 billion during the quarter, compared to the consensus estimate of $2.81 billion. As a group, equities analysts predict that National Bank of Canada will post 9.21 EPS for the current year.

Institutional Trading of National Bank of Canada

A hedge fund recently bought a new stake in National Bank of Canada stock. Public Employees Retirement System of Ohio bought a new position in shares of National Bank of Canada (OTCMKTS:NTIOF - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 63,587 shares of the financial services provider's stock, valued at approximately $2,825,000. 0.06% of the stock is currently owned by hedge funds and other institutional investors.

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.

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