Zacks Research Upgrades National Australia Bank (OTCMKTS:NABZY) to “Strong-Buy”

National Australia Bank (OTCMKTS:NABZY) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Monday,Zacks.com reports.

A number of other brokerages have also recently issued reports on NABZY. National Bankshares assumed coverage on shares of National Australia Bank in a research report on Wednesday, October 8th. They set a “sell” rating and a $38.00 target price for the company. The Goldman Sachs Group raised National Australia Bank to a “strong sell” rating in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $38.00.

National Australia Bank Stock Performance

Shares of NABZY stock traded down $0.22 during mid-day trading on Monday, reaching $14.01. The stock had a trading volume of 33,464 shares, compared to its average volume of 167,629. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 2.88. National Australia Bank has a 12-month low of $9.32 and a 12-month high of $15.13. The business has a 50-day simple moving average of $13.80 and a 200 day simple moving average of $13.70.

About National Australia Bank

National Australia Bank (OTCMKTS: NABZY) is one of Australia’s largest banking groups, offering a broad range of financial services to retail, small business, corporate and institutional customers. Its core activities include personal and business banking — such as deposits, home and business lending, credit cards and payment services — as well as wealth management, insurance, markets and specialist lending. The bank provides transaction and cash management solutions, financing and advisory services to corporate clients and institutional investors.

Headquartered in Melbourne, NAB traces its corporate origins to a 1982 merger between the National Bank of Australasia and the Commercial Banking Company of Sydney, with precursor institutions dating to the 19th century.