National Australia Bank (OTCMKTS:NABZY) Hits New 12-Month High After Analyst Upgrade

by · The Markets Daily

National Australia Bank Ltd. (OTCMKTS:NABZY – Get Free Report) shares hit a new 52-week high on Tuesday after UBS Group upgraded the stock from a hold rating to a strong-buy rating. The stock traded as high as $15.1350 and last traded at $15.0050, with a volume of 7037 shares trading hands. The stock had previously closed at $14.86.

Several other brokerages also recently weighed in on NABZY. The Goldman Sachs Group upgraded National Australia Bank to a “strong sell” rating in a research note on Wednesday, October 8th. Macquarie upgraded National Australia Bank from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 21st. Zacks Research upgraded National Australia Bank from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 12th. Finally, National Bankshares began coverage on shares of National Australia Bank in a research report on Wednesday, October 8th. They set a “sell” rating and a $38.00 price target for the company. Three research analysts have rated the stock with a Strong Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $38.00.

View Our Latest Report on NABZY

National Australia Bank Stock Up 0.8%

The business’s 50-day moving average is $13.93 and its two-hundred day moving average is $13.82. 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

(Get Free Report)

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.

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