National Bank of Canada (OTCMKTS:NTIOF) Shares Gap Down on Disappointing Earnings

Shares of National Bank of Canada (OTCMKTS:NTIOF) gapped down prior to trading on Wednesday following a weaker than expected earnings announcement. The stock had previously closed at $108.78, but opened at $103.35. National Bank of Canada shares last traded at $103.35, with a volume of 414 shares trading hands.

The financial services provider reported $1.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.98 by ($0.03). National Bank of Canada had a net margin of 15.34% and a return on equity of 16.97%. The company had revenue of $2.49 billion during the quarter, compared to analysts’ expectations of $3.47 billion.

National Bank of Canada Increases Dividend

The firm also recently disclosed a dividend, which was paid on Friday, August 1st. Stockholders of record on Tuesday, July 1st were paid a dividend of $0.8578 per share. This is a positive change from National Bank of Canada’s previous dividend of $0.80. The ex-dividend date of this dividend was Monday, June 30th. This represents a dividend yield of 348.0%. National Bank of Canada’s dividend payout ratio is 45.90%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on NTIOF shares. CIBC reissued an “outperform” rating on shares of National Bank of Canada in a research note on Tuesday, May 20th. Scotiabank raised shares of National Bank of Canada to a “strong-buy” rating in a research note on Thursday, May 15th. Finally, Cibc World Mkts raised shares of National Bank of Canada from a “strong sell” rating to a “hold” rating in a research note on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold”.

National Bank of Canada Price Performance

The company’s 50 day moving average price is $104.67 and its 200-day moving average price is $93.53. The company has a market capitalization of $40.85 billion, a PE ratio of 14.22 and a beta of 1.02. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.09.

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.