National Australia Bank (OTCMKTS:NABZY) Shares Gap Down – Here’s What Happened

National Australia Bank Ltd. (OTCMKTS:NABZY) shares gapped down prior to trading on Wednesday . The stock had previously closed at $13.23, but opened at $12.78. National Australia Bank shares last traded at $13.01, with a volume of 12,776 shares trading hands.

Analyst Ratings Changes

Separately, Zacks Research cut National Australia Bank from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 21st. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $38.00.

National Australia Bank Trading Down 0.5%

The stock’s 50-day moving average price is $13.94 and its 200-day moving average price is $14.68. The company has a debt-to-equity ratio of 2.88, a quick ratio of 1.23 and a current ratio of 1.23.

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.