National Bank of Canada Sees Significant Growth in Short Interest

National Bank of Canada (OTCMKTS:NTIOF - Get Free Report) experienced a notable increase in short interest throughout November. By November 30th, the total short interest reached 8,755,500 shares, marking a 16.8% rise from the 7,495,000 shares reported on November 15th. Given the average trading volume of 169,700 shares, the current days-to-cover ratio stands at 51.6 days.

National Bank of Canada Trading Down Slightly

On Friday, shares of OTCMKTS NTIOF declined by 0.1%, falling by $0.13 to reach $94.26 during midday trading. The trading volume recorded was 96,163 shares, exceeding the average volume of 66,863. The company maintains a debt-to-equity ratio of 0.06, alongside a quick ratio and current ratio of 0.76. National Bank of Canada holds a market capitalization of $32.10 billion, a price-to-earnings (P/E) ratio of 12.01, and a beta of 1.06. Over the past year, the stock has seen a low of $70.00 and a high of $100.08. Its 50-day moving average price is $95.83, while the 200-day moving average price sits at $89.31.

National Bank of Canada Announces Dividend Increase

The financial institution recently declared a dividend, paid on Friday, November 1st. Shareholders on record as of Monday, September 30th, received a dividend of $0.8081 per share, which represents an increase from the previous $0.81 dividend. The ex-dividend date was on Friday, September 27th, and this dividend yields 3.45%. The payout ratio for National Bank of Canada is currently at 42.93%.

Wall Street Analysts Provide Insights

Several analysts have shared their opinions on the stock. Barclays recently downgraded National Bank of Canada from a "strong-buy" rating to a "hold" on November 21st. Similarly, CIBC World Markets also reduced their rating from "strong-buy" to "hold" on September 20th.

Company Overview

National Bank of Canada is engaged in offering financial services to individuals, businesses, institutional clients, and governments both within Canada and internationally. Its operations are divided into four segments: Personal and Commercial, Wealth Management, Financial Markets, and U.S. Specialty Finance and International. The Personal and Commercial segment provides a variety of services including personal banking, mortgage loans, consumer loans, insurance products, and various commercial banking solutions.

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