Short Interest in National Bank of Canada (OTCMKTS:NTIOF) Expands By 26.5%

National Bank of Canada (OTCMKTS:NTIOF) saw a large increase in short interest in February. As of February 28th, there was short interest totalling 6,478,600 shares, an increase of 26.5% from the February 13th total of 5,122,700 shares. Currently, 1.7% of the company’s stock are sold short. Based on an average trading volume of 87,400 shares, the days-to-cover ratio is currently 74.1 days.

Wall Street Analyst Weigh In

NTIOF has been the subject of several recent analyst reports. Barclays downgraded National Bank of Canada from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 21st. CIBC restated a “neutral” rating on shares of National Bank of Canada in a research note on Wednesday, March 5th. Cibc World Mkts downgraded National Bank of Canada from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 18th. Finally, Cormark downgraded National Bank of Canada from a “moderate buy” rating to a “hold” rating in a research note on Friday, February 21st.

National Bank of Canada Stock Performance

National Bank of Canada stock traded down $0.61 during trading hours on Tuesday, hitting $82.04. The stock had a trading volume of 62,997 shares, compared to its average volume of 85,977. The company has a 50-day moving average of $87.37 and a two-hundred day moving average of $91.94. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.06. The company has a market cap of $32.10 billion, a PE ratio of 10.45 and a beta of 1.09. National Bank of Canada has a fifty-two week low of $76.77 and a fifty-two week high of $100.08.

National Bank of Canada Increases Dividend

The business also recently announced a dividend, which was paid on Saturday, February 1st. Stockholders of record on Tuesday, December 31st were issued a $0.8104 dividend. The ex-dividend date was Monday, December 30th. This is a boost from National Bank of Canada’s previous dividend of $0.81. This represents a dividend yield of 3.53%. National Bank of Canada’s dividend payout ratio is presently 39.92%.

About National Bank of Canada

National Bank of Canada provides financial services to individuals, businesses, institutional clients, and governments in Canada and internationally. It operates through four segments: Personal and Commercial, Wealth Management, Financial Markets, and U.S. Specialty Finance and International. The Personal and Commercial segment offers personal banking services, including transaction solutions, mortgage loans and home equity lines of credit, consumer loans, payment solutions, and savings and investment solutions; various insurance products; and commercial banking services, such as credit, and deposit, investment solutions, international trade, foreign exchange transactions, payroll, cash management, insurance, electronic transactions, and complimentary services.