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

National Australia Bank Ltd. (OTCMKTS:NABZY) gapped down prior to trading on Monday . The stock had previously closed at $14.71, but opened at $14.08. National Australia Bank shares last traded at $14.75, with a volume of 2,783 shares trading hands.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. The Goldman Sachs Group upgraded National Australia Bank to a “strong sell” rating in a report on Wednesday, October 8th. Zacks Research raised shares of National Australia Bank from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 12th. Macquarie upgraded shares of National Australia Bank from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 21st. Finally, National Bankshares began coverage on shares of National Australia Bank in a research note on Wednesday, October 8th. They set a “sell” rating and a $38.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $38.00.

National Australia Bank Price Performance

The stock has a 50-day moving average price of $13.83 and a 200 day moving average price of $13.78. 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.