Short Interest in National Australia Bank Ltd. (OTCMKTS:NABZY) Drops By 58.4%

National Australia Bank Ltd. (OTCMKTS:NABZY) was the target of a large decline in short interest during the month of July. As of July 31st, there was short interest totaling 28,257 shares, a decline of 58.4% from the July 15th total of 67,852 shares. Approximately 0.0% of the shares of the company are sold short. Based on an average daily volume of 1,117,240 shares, the days-to-cover ratio is presently 0.0 days.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Zacks Research cut National Australia Bank from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 21st. National Bank Financial upgraded National Australia Bank from a “neutral” rating to a “buy” rating and set a $42.50 target price on the stock in a research report on Wednesday, July 1st. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.50.

National Australia Bank Stock Performance

Shares of NABZY stock traded up $0.06 on Friday, hitting $14.57. The company had a trading volume of 186,755 shares, compared to its average volume of 395,180. National Australia Bank has a twelve month low of $12.40 and a twelve month high of $18.13. The company has a 50-day moving average price of $13.70 and a 200-day moving average price of $14.65.

National Australia Bank Company Profile

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.