National Bank of Canada (OTCMKTS:NTIOF) Trading Down 5.3% - Here's Why

Key Points

• National Bank of Canada shares fell 5.3% to $152.50 in midday trading, while volume dropped 97% below the average daily level.
• Analyst sentiment remains positive overall, with the stock carrying a “Moderate Buy” consensus from MarketBeat, including recent upgrades to “Strong Buy” and “Outperform.”
• The bank reported quarterly EPS of $2.43, beating consensus estimates of $2.32, alongside a 15.99% return on equity and 14.49% net margin.

Shares of National Bank of Canada (OTCMKTS:NTIOF - Get Free Report) fell 5.3% during mid-day trading on Wednesday . The stock traded as low as $152.50 and last traded at $152.50. 1,722 shares traded hands during mid-day trading, a decline of 97% from the average daily volume of 49,965 shares. The stock had previously closed at $161.10.

Wall Street Analysts Forecast Growth

NTIOF has been the topic of several research reports. Raymond James Financial reissued a "market perform" rating on shares of National Bank of Canada in a research note on Tuesday, May 12th. Canadian Imperial Bank of Commerce upgraded shares of National Bank of Canada from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 18th. National Bank Financial raised shares of National Bank of Canada from a "hold" rating to an "outperform" rating in a research report on Tuesday, August 18th. Royal Bank Of Canada reissued a "sector perform" rating on shares of National Bank of Canada in a research report on Thursday, May 28th. Finally, Scotiabank reissued an "outperform" rating on shares of National Bank of Canada in a research note on Tuesday, June 16th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy".

National Bank of Canada Stock Down 5.5%

The firm has a market cap of $58.44 billion, a PE ratio of 18.61, a price-to-earnings-growth ratio of 1.42 and a beta of 0.87. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.11. The business has a 50-day moving average price of $160.62 and a two-hundred day moving average price of $147.52.

National Bank of Canada (OTCMKTS:NTIOF - Get Free Report) last released its earnings results on Wednesday, August 26th. The financial services provider reported $2.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.32 by $0.11. National Bank of Canada had a return on equity of 15.99% and a net margin of 14.49%. On average, equities research analysts expect that National Bank of Canada will post 9.23 EPS for the current year.

Hedge Funds Weigh In On National Bank of Canada

A hedge fund recently bought a new stake in National Bank of Canada stock. Paradigm Capital Management Inc. NY bought a new position in shares of National Bank of Canada (OTCMKTS:NTIOF - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 7,000 shares of the financial services provider's stock, valued at approximately $311,000. Institutional investors own 0.06% of the company's stock.

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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