National Bank of Canada (NTIOF) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of National Bank of Canada (OTCMKTS:NTIOF) from a buy rating to a hold rating in a report published on Tuesday.

According to Zacks, “National Bank of Canada provides banking services, including retail, corporate and investment banking. It operates in three business segments, personal and commercial, wealth management, and financial markets. The personal and Commercial Banking segment offers a range of services, including credit, deposit and investment solutions and international trade services. Wealth Management provides financial advice, investment solutions, products and specialized services. Financial Markets provides corporate, public sector and institutional clients with banking and investment banking service. “

Separately, ValuEngine downgraded shares of National Bank of Canada from a hold rating to a sell rating in a report on Friday, October 12th.

Shares of National Bank of Canada stock opened at $46.47 on Tuesday. The stock has a market capitalization of $15.92 billion, a P/E ratio of 11.14 and a beta of 1.34. National Bank of Canada has a twelve month low of $45.58 and a twelve month high of $53.84. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.80 and a current ratio of 0.80.

National Bank of Canada (OTCMKTS:NTIOF) last released its quarterly earnings data on Wednesday, August 29th. The financial services provider reported $1.17 EPS for the quarter, beating the Zacks’ consensus estimate of $1.15 by $0.02. The company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.37 billion. National Bank of Canada had a net margin of 20.48% and a return on equity of 18.60%. Sell-side analysts forecast that National Bank of Canada will post 4.6 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 1st. Shareholders of record on Monday, September 24th will be issued a $0.477 dividend. The ex-dividend date is Friday, September 21st. This represents a $1.91 dividend on an annualized basis and a yield of 4.11%. National Bank of Canada’s payout ratio is 45.56%.

About National Bank of Canada

National Bank of Canada provides various financial products and services to retail, commercial, corporate, and institutional clients in Canada and internationally. It operates through Personal and Commercial, Wealth Management, Financial Markets, and U.S. Specialty Finance and International segments.

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