National Bank of Canada (OTCMKTS:NTIOF) Sets New 52-Week High on Better-Than-Expected Earnings

National Bank of Canada (OTCMKTS:NTIOF)’s stock price hit a new 52-week high on Thursday following a better than expected earnings announcement. The stock traded as high as $138.88 and last traded at $138.22, with a volume of 15490 shares changing hands. The stock had previously closed at $129.9080.

The financial services provider reported $2.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.19. National Bank of Canada had a net margin of 13.60% and a return on equity of 15.77%. The firm had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $3.68 billion.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Zacks Research raised shares of National Bank of Canada from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 13th. Canadian Imperial Bank of Commerce raised shares of National Bank of Canada from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 13th. Scotiabank reaffirmed an “outperform” rating on shares of National Bank of Canada in a research note on Friday, January 9th. Desjardins raised shares of National Bank of Canada from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, November 11th. Finally, TD Securities reaffirmed a “hold” rating on shares of National Bank of Canada in a report on Thursday, December 4th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, National Bank of Canada currently has a consensus rating of “Moderate Buy”.

National Bank of Canada Trading Down 0.4%

The company has a market cap of $54.41 billion, a PE ratio of 18.71, a price-to-earnings-growth ratio of 1.35 and a beta of 0.90. The company’s 50 day simple moving average is $125.87 and its two-hundred day simple moving average is $116.95. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.74 and a quick ratio of 0.74.

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.