Zacks Investment Research Upgrades National Bank of Canada (NTIOF) to Buy

Zacks Investment Research upgraded shares of National Bank of Canada (OTCMKTS:NTIOF) from a hold rating to a buy rating in a research note issued to investors on Friday morning. The brokerage currently has $56.00 price objective on the financial services provider’s stock.

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. “

Shares of OTCMKTS:NTIOF opened at $49.16 on Friday. National Bank of Canada has a one year low of $45.58 and a one year high of $53.84. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.80 and a quick ratio of 0.80. The stock has a market capitalization of $16.88 billion, a PE ratio of 11.79 and a beta of 1.34.

National Bank of Canada (OTCMKTS:NTIOF) last announced its earnings results on Wednesday, August 29th. The financial services provider reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $1.15 by $0.02. National Bank of Canada had a net margin of 20.48% and a return on equity of 18.60%. The business had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.37 billion. As a group, sell-side analysts predict that National Bank of Canada will post 4.6 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 1st. Stockholders of record on Monday, September 24th will be paid a dividend of $0.477 per share. The ex-dividend date of this dividend is Friday, September 21st. This represents a $1.91 dividend on an annualized basis and a dividend yield of 3.88%. National Bank of Canada’s dividend payout ratio (DPR) is 45.56%.

National Bank of Canada Company Profile

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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