National Bank of Canada (OTCMKTS:NTIOF) Short Interest Update

The National Bank of Canada (OTCMKTS:NTIOF - Get Free Report) experienced a marked increase in short interest during the month of March. As of March 15th, short interest had risen to 14,911,900 shares, reflecting a substantial increase of 130.2% compared to the total of 6,478,600 shares recorded at the end of February. Currently, about 3.8% of the company's total shares are sold short. With an average daily trading volume of 67,400 shares, this results in a days-to-cover ratio of approximately 221.2 days.

National Bank of Canada Stock Down 0.9 %

On Friday, the stock of National Bank of Canada traded down by $0.78, bringing the price to $83.30. A total of 119,679 shares exchanged hands, which is higher than its usual trading volume of 85,560 shares. The current market capitalization of the company stands at $32.59 billion, with a price-to-earnings ratio of 10.61 and a beta value of 1.09. The bank has a debt-to-equity ratio of 0.06, a current ratio of 0.76, and a quick ratio of 0.76. Notably, the company's 50-day moving average price is $85.98, while its 200-day moving average stands at $91.47. In the past year, the stock has reached a low of $76.77 and a high of $100.08.

National Bank of Canada Cuts Dividend

Recently, the bank announced a dividend payout, which is scheduled for Thursday, May 1st. Shareholders on record as of Tuesday, April 1st, will receive a dividend of $0.7975, equating to a yield of 3.86%. The ex-dividend date is set for Monday, March 31st. The dividend payout ratio (DPR) is currently 39.92% for the bank.

Analysts Set New Price Targets

Several equity analysts have recently provided updates regarding NTIOF shares. Cibc World Markets downgraded the shares of National Bank of Canada from a "strong-buy" rating to a "hold" rating in a report released on Tuesday, February 18th. CIBC reaffirmed a "neutral" rating for the shares in a report dated March 5th. Additionally, Cormark reduced its rating from "moderate buy" to "hold" on February 21st.

About National Bank of Canada

Founded in 1859, National Bank of Canada offers a wide range of financial services for individuals, businesses, institutional clients, and governments, both in Canada and internationally. The company operates through various segments, including Personal and Commercial, Wealth Management, Financial Markets, and U.S. Specialty Finance and International. The Personal and Commercial segment provides personal banking services, such as transaction solutions, mortgage loans, consumer loans, and investment options.

Banking, Stocks, Finance