National Australia Bank (OTCMKTS:NABZY) Shares Gap Up – Still a Buy?

Shares of National Australia Bank Ltd. (OTCMKTS:NABZY) gapped up prior to trading on Friday . The stock had previously closed at $13.63, but opened at $14.2899. National Australia Bank shares last traded at $14.29, with a volume of 1,889 shares changing hands.

Analysts Set New Price Targets

NABZY has been the subject of a number of recent research reports. National Bank Financial raised National Australia Bank from a “neutral” rating to a “buy” rating and set a $42.50 price objective for the company in a research report on Wednesday, July 1st. Zacks Research lowered National Australia Bank from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 21st. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, National Australia Bank presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.50.

National Australia Bank Price Performance

The stock’s 50-day moving average is $13.35 and its 200 day moving average is $14.63.

National Australia Bank Company Profile

National Australia Bank (OTCMKTS: NABZY) is one of Australia’s largest banking groups, offering a broad range of financial services to retail, small business, corporate and institutional customers. Its core activities include personal and business banking — such as deposits, home and business lending, credit cards and payment services — as well as wealth management, insurance, markets and specialist lending. The bank provides transaction and cash management solutions, financing and advisory services to corporate clients and institutional investors.

Headquartered in Melbourne, NAB traces its corporate origins to a 1982 merger between the National Bank of Australasia and the Commercial Banking Company of Sydney, with precursor institutions dating to the 19th century.