National Bank of Canada (OTCMKTS:NTIOF) Shares Gap Down - What's Next?

Key Points

• National Bank of Canada shares gapped down from a previous close of $103.82 to open at $99.00 on Monday, with a trading volume of 191 shares.
• The bank reported a quarterly earnings of $2.00 per share, exceeding analyst estimates by $0.29, although revenue was lower than expected at $2.64 billion.
• The firm recently announced an increased dividend of $0.8578 per share, reflecting a yield of 348.0% and a payout ratio of 45.90%.

National Bank of Canada (OTCMKTS:NTIOF - Get Free Report)'s share price gapped down prior to trading on Monday . The stock had previously closed at $103.82, but opened at $99.00. National Bank of Canada shares last traded at $99.00, with a volume of 191 shares trading hands.

Wall Street Analyst Weigh In

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

National Bank of Canada Stock Performance

The company has a 50-day simple moving average of $101.70 and a two-hundred day simple moving average of $91.52. The firm has a market cap of $41.65 billion, a PE ratio of 14.06 and a beta of 1.02. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.09.

National Bank of Canada (OTCMKTS:NTIOF - Get Free Report) last posted its quarterly earnings data on Wednesday, May 28th. The financial services provider reported $2.00 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.71 by $0.29. The firm had revenue of $2.64 billion during the quarter, compared to analysts' expectations of $3.33 billion. National Bank of Canada had a return on equity of 16.83% and a net margin of 18.73%. As a group, equities research analysts forecast 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 declared a dividend, which was paid on Friday, August 1st. Shareholders of record on Tuesday, July 1st were given a $0.8578 dividend. The ex-dividend date was Monday, June 30th. This is a boost from National Bank of Canada's previous dividend of $0.80. This represents a yield of 348.0%. National Bank of Canada's payout ratio is 45.77%.

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.