National Bank of Canada (OTCMKTS:NTIOF) Sees Significant Drop in Short Interest

by · The Cerbat Gem

National Bank of Canada (OTCMKTS:NTIOF – Get Free Report) was the target of a large decline in short interest during the month of October. As of October 15th, there was short interest totaling 3,721,380 shares, a decline of 34.3% from the September 30th total of 5,666,222 shares. Approximately 1.0% of the shares of the stock are sold short. Based on an average trading volume of 54,737 shares, the short-interest ratio is presently 68.0 days.

Hedge Funds Weigh In On National Bank of Canada

A hedge fund recently bought a new position in National Bank of Canada stock. Public Employees Retirement System of Ohio purchased a new position in National Bank of Canada (OTCMKTS:NTIOF – Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 63,587 shares of the financial services provider’s stock, valued at approximately $2,825,000. 0.06% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Desjardins lowered shares of National Bank of Canada from a “moderate buy” rating to a “hold” rating in a report on Tuesday, August 4th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of National Bank of Canada in a research report on Thursday, September 3rd. Scotiabank restated an “outperform” rating on shares of National Bank of Canada in a report on Thursday, August 27th. TD Securities restated a “hold” rating on shares of National Bank of Canada in a research report on Wednesday, August 12th. Finally, National Bank Financial upgraded shares of National Bank of Canada from a “hold” rating to an “outperform” rating in a research report on Tuesday, August 18th. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

View Our Latest Report on NTIOF

National Bank of Canada Trading Up 1.8%

NTIOF opened at $153.14 on Tuesday. National Bank of Canada has a fifty-two week low of $110.97 and a fifty-two week high of $171.47. The firm has a market capitalization of $58.47 billion, a PE ratio of 17.75, a P/E/G ratio of 1.27 and a beta of 0.87. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.76 and a quick ratio of 0.76. The company’s 50-day moving average is $148.70 and its 200 day moving average is $145.76.

National Bank of Canada (OTCMKTS:NTIOF – Get Free Report) last posted its quarterly earnings data on Wednesday, August 26th. The financial services provider reported $2.43 EPS for the quarter, beating the consensus estimate of $2.32 by $0.11. The firm had revenue of $2.89 billion during the quarter, compared to analyst estimates of $2.75 billion. National Bank of Canada had a net margin of 17.22% and a return on equity of 16.67%. As a group, research analysts predict that National Bank of Canada will post 9.44 earnings per share for the current fiscal year.

National Bank of Canada Company Profile

(Get Free Report)

National Bank of Canada is a Canadian financial institution headquartered in Montreal, Quebec. Founded in 1859, the bank provides a broad range of banking and financial services to individuals, businesses, institutional clients and governments.

Its activities include personal and commercial banking, wealth management, investment banking, securities brokerage, financial markets and specialized finance. Products and services include deposit accounts, mortgages, consumer and business loans, credit facilities, investment products, portfolio management, financial planning, capital-markets advisory and trading services.

National Bank primarily serves customers across Quebec and other Canadian provinces through its banking and wealth-management operations.

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