National Australia Bank (OTCMKTS:NABZY) Sets New 52-Week High – Here’s Why

National Australia Bank Ltd. (OTCMKTS:NABZY) shares reached a new 52-week high during trading on Tuesday . The stock traded as high as $15.1350 and last traded at $15.0050, with a volume of 7037 shares changing hands. The stock had previously closed at $14.86.

Analysts Set New Price Targets

A number of research analysts have issued reports on NABZY shares. National Bankshares began coverage on 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. Macquarie upgraded shares of National Australia Bank from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 21st. The Goldman Sachs Group raised shares of National Australia Bank to a “strong sell” rating in a report on Wednesday, October 8th. Finally, Zacks Research upgraded shares of National Australia Bank from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 12th. Two investment analysts have rated the stock with a Strong Buy rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, National Australia Bank currently has an average rating of “Moderate Buy” and an average price target of $38.00.

National Australia Bank Stock Performance

The company has a debt-to-equity ratio of 2.88, a quick ratio of 1.23 and a current ratio of 1.23. The firm has a 50-day moving average price of $13.86 and a 200-day moving average price of $13.79.

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.