Short Interest in National Bank of Canada (OTCMKTS:NTIOF) Expands By 130.2%

National Bank of Canada (OTCMKTS:NTIOF) saw a significant increase in short interest in the month of March. As of March 15th, there was short interest totalling 14,911,900 shares, an increase of 130.2% from the February 28th total of 6,478,600 shares. Based on an average daily volume of 67,400 shares, the short-interest ratio is presently 221.2 days. Approximately 3.8% of the company’s shares are sold short.

Analyst Ratings Changes

Several brokerages have recently issued reports on NTIOF. 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. CIBC reiterated a “neutral” rating on shares of National Bank of Canada in a report on Wednesday, March 5th. Finally, Cormark downgraded National Bank of Canada from a “moderate buy” rating to a “hold” rating in a report on Friday, February 21st.

National Bank of Canada Stock Performance

Shares of NTIOF opened at $83.30 on Friday. The firm has a market cap of $32.59 billion, a P/E ratio of 10.61 and a beta of 1.09. National Bank of Canada has a twelve month low of $76.77 and a twelve month high of $100.08. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.76 and a current ratio of 0.76. The firm’s 50 day moving average price is $85.87 and its two-hundred day moving average price is $91.41.

National Bank of Canada Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 1st will be given a $0.7975 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a yield of 3.86%. National Bank of Canada’s dividend payout ratio is currently 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.