National Bank of Canada (OTCMKTS:NTIOF) Upgraded to “Strong-Buy” at Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce upgraded shares of National Bank of Canada (OTCMKTS:NTIOF) from a hold rating to a strong-buy rating in a research note released on Tuesday morning,Zacks.com reports.

A number of other brokerages also recently issued reports on NTIOF. Scotiabank reissued an “outperform” rating on shares of National Bank of Canada in a research report on Tuesday, June 16th. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of National Bank of Canada in a report on Thursday, May 28th. Desjardins downgraded National Bank of Canada from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Raymond James Financial reissued a “market perform” rating on shares of National Bank of Canada in a report on Tuesday, May 12th. Finally, National Bank Financial upgraded National Bank of Canada from a “hold” rating to an “outperform” rating in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, National Bank of Canada presently has an average rating of “Moderate Buy”.

National Bank of Canada Stock Performance

NTIOF opened at $160.54 on Tuesday. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.11. The company has a market cap of $61.63 billion, a price-to-earnings ratio of 19.63, a PEG ratio of 1.49 and a beta of 0.87. The company’s 50 day moving average is $159.98 and its 200 day moving average is $146.46. National Bank of Canada has a 12-month low of $103.35 and a 12-month high of $171.47.

National Bank of Canada (OTCMKTS:NTIOF) last announced its earnings results on Wednesday, May 27th. The financial services provider reported $2.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.07. National Bank of Canada had a net margin of 14.49% and a return on equity of 15.99%. The company had revenue of $2.87 billion during the quarter, compared to analyst estimates of $2.81 billion. On average, equities research analysts predict that National Bank of Canada will post 9.21 EPS for the current year.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in National Bank of Canada stock. Public Employees Retirement System of Ohio purchased a new position in National Bank of Canada (OTCMKTS:NTIOF) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 63,587 shares of the financial services provider’s stock, valued at approximately $2,825,000. Institutional investors and hedge funds own 0.06% of the company’s stock.

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.