National Australia Bank Ltd. (OTCMKTS:NABZY) Sees Large Decrease in Short Interest

National Australia Bank Ltd. (OTCMKTS:NABZY) was the recipient of a large decline in short interest in June. As of June 30th, there was short interest totaling 7,638 shares, a decline of 79.6% from the June 15th total of 37,466 shares. Approximately 0.0% of the company’s shares are short sold. Based on an average daily volume of 1,211,134 shares, the short-interest ratio is presently 0.0 days.

Analyst Ratings Changes

A number of research firms recently issued reports on NABZY. National Bank Financial raised shares of National Australia Bank from a “neutral” rating to a “buy” rating and set a $42.50 price target for the company in a research note on Wednesday, July 1st. Zacks Research cut National Australia Bank from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 21st. Two analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $42.50.

National Australia Bank Price Performance

NABZY traded up $0.18 during midday trading on Friday, reaching $13.81. The company’s stock had a trading volume of 199,814 shares, compared to its average volume of 492,557. National Australia Bank has a 1 year low of $11.76 and a 1 year high of $18.13. The stock’s 50-day moving average is $13.34 and its 200-day moving average is $14.63.

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.