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

National Bank of Canada (OTCMKTS:NTIOF) was the target of a large increase in short interest during the month of 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. Approximately 1.7% of the shares of the stock are short sold. Based on an average daily volume of 87,400 shares, the days-to-cover ratio is presently 74.1 days.

National Bank of Canada Price Performance

OTCMKTS:NTIOF traded down $0.61 during mid-day trading on Tuesday, reaching $82.04. 62,997 shares of the company were exchanged, compared to its average volume of 85,977. National Bank of Canada has a 12 month low of $76.77 and a 12 month high of $100.08. The company has a fifty day moving average of $87.37 and a 200 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 stock has a market cap of $32.10 billion, a PE ratio of 10.45 and a beta of 1.09.

National Bank of Canada Increases Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on NTIOF shares. CIBC reaffirmed a “neutral” rating on shares of National Bank of Canada in a report on Wednesday, March 5th. Cibc World Mkts lowered shares of National Bank of Canada from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 18th. Cormark lowered shares of National Bank of Canada from a “moderate buy” rating to a “hold” rating in a report on Friday, February 21st. Finally, Barclays lowered shares of National Bank of Canada from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 21st.

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.