National Bank of Canada (OTCMKTS:NTIOF) Sets New 1-Year High – Here’s Why

National Bank of Canada (OTCMKTS:NTIOF) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $100.62 and last traded at $100.62, with a volume of 523 shares changing hands. The stock had previously closed at $99.08.

Wall Street Analysts Forecast Growth

NTIOF has been the subject of several research analyst reports. National Bankshares lowered National Bank of Canada from a “speculative buy” rating to an “underperform” rating in a research report on Friday, April 4th. Scotiabank upgraded National Bank of Canada to a “strong-buy” rating in a report on Thursday, May 15th. Cibc World Mkts lowered shares of National Bank of Canada from a “hold” rating to a “strong sell” rating in a research note on Friday, April 4th. Finally, CIBC reissued an “outperform” rating on shares of National Bank of Canada in a research report on Tuesday, May 20th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, National Bank of Canada currently has a consensus rating of “Hold”.

National Bank of Canada Stock Performance

The stock has a market capitalization of $39.36 billion, a PE ratio of 13.30 and a beta of 1.01. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.09. The stock has a fifty day moving average of $92.32 and a 200-day moving average of $88.99.

National Bank of Canada (OTCMKTS:NTIOF) last released its earnings results on Wednesday, May 28th. The financial services provider reported $2.00 earnings per share for the quarter, topping analysts’ consensus estimates of $1.71 by $0.29. National Bank of Canada had a net margin of 18.73% and a return on equity of 16.83%. The firm had revenue of $2.64 billion for the quarter, compared to analyst estimates of $3.33 billion. Equities analysts anticipate that National Bank of Canada will post 7.63 earnings per share for the current fiscal year.

National Bank of Canada Increases Dividend

The firm also recently announced a dividend, which will be paid on Friday, August 1st. Investors of record on Tuesday, July 1st will be issued a $0.8578 dividend. This represents a yield of 3.48%. The ex-dividend date of this dividend is Monday, June 30th. This is a positive change from National Bank of Canada’s previous dividend of $0.80. National Bank of Canada’s dividend payout ratio is 41.93%.

National Bank of Canada Company Profile

National Bank of Canada provides financial services to individuals, businesses, institutional clients, and governments in Canada and internationally. It operates through four segments: Personal and Commercial, Wealth Management, Financial Markets, and U.S. Specialty Finance and International. The Personal and Commercial segment offers personal banking services, including transaction solutions, mortgage loans and home equity lines of credit, consumer loans, payment solutions, and savings and investment solutions; various insurance products; and commercial banking services, such as credit, and deposit, investment solutions, international trade, foreign exchange transactions, payroll, cash management, insurance, electronic transactions, and complimentary services.