The National Bank of Canada (OTCMKTS:NTIOF – Get Rating) saw short-term interest rates fall sharply in August. As of August 31, short interest totaled 4,068,200 shares, down 29.5% from the August 15 total of 5,769,400 shares. Based on an average daily trading volume of 5,500 shares, the short interest ratio is currently 739.7 days.
National Bank of Canada stock performance
Shares of NTIOF stock fell $1.19 during trading hours on Friday to hit $68.39. The company’s shares had a trading volume of 4,698 shares compared to an average volume of 3,838. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt to equity ratio of 0.04. The company has a 50-day moving average of $69.34 and a 200-day moving average of $71.93. The National Bank of Canada has a 12-month low of $63.50 and a 12-month high of $88.09. The stock has a market cap of $23.01 billion, a P/E of 9.06 and a beta of 1.13.
Changes in analyst ratings
Several analysts have rated NTIOF shares. Desjardins lowered its target price on National Bank of Canada shares to CAD103.00 from CAD104.00 and ranked the stock as “hold” in a research report on Tuesday, May. Scotiabank raised its target price on shares of National Bank of Canada to CAD112.00 from CAD107.00 in a research report on Thursday, August 18. Credit Suisse Group raised its price target for shares of National Bank of Canada to CAD111.00 from CAD106.00 in a research report on Tuesday, May 31. National Bank Financial lowered its price target for shares of National Bank of Canada to CAD100.00 from CAD101.00 in a research report on Thursday, August 25. Finally, CIBC raised its target price on National Bank of Canada shares to $104.00 from $102.00 and gave the stock an outperform rating in a research report on Tuesday, August. Two research analysts have assigned a sell rating to the stock, three have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the National Bank of Canada currently has an average rating of Hold and an average target price of $107.11.
About the National Bank of Canada
(received rating)
The National Bank of Canada offers a variety of financial products and services to individual, business, corporate and institutional customers in Canada and internationally. The Company operates through four segments: Personal and Commercial, Wealth Management, Financial Markets and US Specialty Finance and International.
Further reading
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