Canadian Imperial Bank of Commerce Downgrades National Bank of Canada (OTCMKTS:NTIOF) to Hold

National Bank of Canada (OTCMKTS:NTIOF) was downgraded by equities research analysts at Canadian Imperial Bank of Commerce from a “strong-buy” rating to a “hold” rating in a research report issued on Wednesday,Zacks.com reports.

Several other equities research analysts also recently weighed in on NTIOF. National Bank Financial downgraded shares of National Bank of Canada from a “buy” rating to a “neutral” rating in a research note on Wednesday. Scotiabank reaffirmed an “outperform” rating on shares of National Bank of Canada in a research note on Monday, May 4th. Zacks Research downgraded shares of National Bank of Canada from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Finally, Raymond James Financial reissued a “market perform” rating on shares of National Bank of Canada in a research report on Tuesday. Two equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

National Bank of Canada Stock Performance

OTCMKTS NTIOF opened at $149.65 on Wednesday. The business’s 50 day moving average price is $140.20 and its 200-day moving average price is $128.93. National Bank of Canada has a fifty-two week low of $91.19 and a fifty-two week high of $153.69. The company has a market cap of $57.68 billion, a P/E ratio of 19.98, a P/E/G ratio of 1.35 and a beta of 0.91. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.74 and a current ratio of 0.74.

National Bank of Canada (OTCMKTS:NTIOF) last issued its quarterly earnings results on Wednesday, February 25th. The financial services provider reported $2.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.19. The company had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $3.68 billion. National Bank of Canada had a return on equity of 15.69% and a net margin of 13.60%. Sell-side analysts predict that National Bank of Canada will post 9.26 earnings per share for the current year.

About National Bank of Canada

National Bank of Canada (OTCMKTS: NTIOF) is a full‑service Canadian financial institution headquartered in Montreal, Quebec. The bank offers a broad range of products and services for personal, commercial and institutional clients, including deposit accounts, mortgages and consumer lending, small‑ and medium‑sized business banking, corporate lending, and cash management solutions.

In addition to traditional banking, National Bank provides wealth management and brokerage services through its private banking and advisory channels, and operates an investment banking and capital markets platform that delivers underwriting, advisory, trading and research services.