National Bank of Canada (OTCMKTS:NTIOF) Hits New 52-Week High – Here’s Why

National Bank of Canada (OTCMKTS:NTIOF)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $116.7801 and last traded at $116.7740, with a volume of 426 shares trading hands. The stock had previously closed at $116.17.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on NTIOF. Desjardins raised National Bank of Canada from a “hold” rating to a “moderate buy” rating in a report on Tuesday, November 11th. Cibc World Mkts raised shares of National Bank of Canada from a “strong sell” rating to a “hold” rating in a research report on Friday, August 1st. Zacks Research upgraded shares of National Bank of Canada from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 13th. Scotiabank reiterated an “outperform” rating on shares of National Bank of Canada in a research note on Tuesday. Finally, Royal Bank Of Canada restated a “sector perform” rating on shares of National Bank of Canada in a research note on Thursday, August 28th. Four investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold”.

National Bank of Canada Stock Up 1.7%

The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $46.62 billion, a price-to-earnings ratio of 16.27 and a beta of 0.95. The business’s 50-day moving average is $110.90 and its 200-day moving average is $105.27.

National Bank of Canada (OTCMKTS:NTIOF) last released its quarterly earnings data on Wednesday, August 27th. The financial services provider reported $1.95 earnings per share for the quarter, missing analysts’ consensus estimates of $1.98 by ($0.03). National Bank of Canada had a net margin of 15.34% and a return on equity of 16.05%. The company had revenue of $2.49 billion for the quarter, compared to analysts’ expectations of $3.47 billion. As a group, equities analysts predict that National Bank of Canada will post 7.63 earnings per share for the current year.

National Bank of Canada Cuts Dividend

The business also recently disclosed a dividend, which was paid on Saturday, November 1st. Shareholders of record on Tuesday, September 30th were given a $0.8531 dividend. This represents a yield of 313.0%. The ex-dividend date was Monday, September 29th. National Bank of Canada’s dividend payout ratio is currently 46.79%.

National Bank of Canada Company Profile

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.