National Bank of Canada (OTCMKTS:NTIOF) Share Price Crosses Below Two Hundred Day Moving Average - Here's Why

Key Points

• National Bank of Canada shares fell below their 200-day moving average, trading as low as $148.64 before closing at $150.08, compared with the moving average of $150.76.
• Analyst sentiment is mixed: three analysts rate the stock a Buy and five rate it a Hold, resulting in a consensus “Hold” rating.
• The bank exceeded quarterly expectations, reporting $2.43 in EPS versus a $2.32 estimate and $2.89 billion in revenue versus a $2.75 billion forecast.

National Bank of Canada (OTCMKTS:NTIOF - Get Free Report) crossed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $150.76 and traded as low as $148.64. National Bank of Canada shares last traded at $150.08, with a volume of 13,078 shares changing hands.

Analyst Upgrades and Downgrades

NTIOF has been the subject of a number of recent research reports. National Bank Financial raised National Bank of Canada from a "hold" rating to an "outperform" rating in a report on Tuesday, August 18th. Scotiabank reaffirmed an "outperform" rating on shares of National Bank of Canada in a research report on Thursday, August 27th. Desjardins downgraded National Bank of Canada from a "moderate buy" rating to a "hold" rating in a report on Tuesday, August 4th. Royal Bank Of Canada reissued a "sector perform" rating on shares of National Bank of Canada in a research report on Thursday, August 27th. Finally, Canadian Imperial Bank of Commerce restated an "outperform" rating on shares of National Bank of Canada in a research note on Thursday, September 3rd. Three investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold".

National Bank of Canada Price Performance

The business's 50 day moving average is $157.65 and its two-hundred day moving average is $150.76. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.76 and a current ratio of 0.76. The firm has a market capitalization of $57.46 billion, a PE ratio of 17.39, a price-to-earnings-growth ratio of 1.24 and a beta of 0.86.

National Bank of Canada (OTCMKTS:NTIOF - Get Free Report) last posted its earnings results on Wednesday, August 26th. The financial services provider reported $2.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.32 by $0.11. The firm had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.75 billion. National Bank of Canada had a return on equity of 16.67% and a net margin of 17.22%. Equities research analysts anticipate that National Bank of Canada will post 9.44 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in National Bank of Canada stock. Public Employees Retirement System of Ohio purchased a new position in National Bank of Canada (OTCMKTS:NTIOF - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 63,587 shares of the financial services provider's stock, valued at approximately $2,825,000. Institutional investors own 0.06% of the company's stock.

National Bank of Canada Company Profile

National Bank of Canada is a diversified financial services institution headquartered in Montreal, Quebec. Founded in 1859, it is one of Canada's largest banks and serves individuals, businesses, institutional clients and governments through a range of banking and investment services.

The bank's principal activities include personal and commercial banking, wealth management, financial markets and specialized financial services. Its offerings include deposit accounts, mortgages, consumer and business loans, investment and advisory services, brokerage, insurance-related solutions and capital-markets services.

National Bank primarily serves customers across Canada, with a particularly strong presence in Quebec, and also operates internationally through selected subsidiaries and activities in the United States, Cambodia and other markets.

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