National Bank of Canada Receives Average Rating of 'Hold' from Eight Brokerages

National Bank of Canada (OTCMKTS:NTIOF) has received an average rating of 'Hold' from eight brokerages covering the firm, according to Marketbeat Ratings. Seven analysts have given the bank a hold recommendation, while one has recommended buying its shares.

This is not the first time National Bank of Canada's stock performance has been analyzed. Zacks Research downgraded the company from 'strong-buy' to 'hold' in April, while National Bank Financial and Desjardins also reduced their ratings for the bank.

On May 27th, National Bank of Canada released its quarterly earnings results, reporting $2.36 EPS, beating analyst estimates by $0.07. The company's revenue for the quarter was $2.87 billion, exceeding expectations of $2.81 billion.