National Australia Bank (OTCMKTS:NABZY) Hits New 1-Year High – Still a Buy?

National Australia Bank Ltd. (OTCMKTS:NABZY)’s share price hit a new 52-week high during trading on Tuesday . The company traded as high as $16.00 and last traded at $15.8277, with a volume of 122 shares changing hands. The stock had previously closed at $15.73.

Analysts Set New Price Targets

Several research analysts have issued reports on NABZY shares. UBS Group raised shares of National Australia Bank from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 27th. Zacks Research raised National Australia Bank from a “hold” rating to a “strong-buy” rating in a report on Monday, January 12th. Finally, Macquarie Infrastructure upgraded shares of National Australia Bank from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 21st. Three research analysts have rated the stock with a Strong Buy rating and two have given a Sell rating to the company. According to data from MarketBeat.com, National Australia Bank currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.00.

National Australia Bank Price Performance

The business has a fifty day simple moving average of $14.27 and a 200 day simple moving average of $13.98. The company has a debt-to-equity ratio of 2.88, a current ratio of 1.23 and a quick ratio of 1.23.

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.