National Australia Bank (OTCMKTS:NABZY) Shares Gap Up – Here’s Why

Shares of National Australia Bank Ltd. (OTCMKTS:NABZY) gapped up prior to trading on Tuesday. The stock had previously closed at $13.52, but opened at $14.00. National Australia Bank shares last traded at $13.64, with a volume of 2,641 shares trading hands.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. National Bank Financial raised shares of National Australia Bank from a “neutral” rating to a “buy” rating in a research note on Wednesday, September 16th. The Goldman Sachs Group upgraded shares of National Australia Bank from a “strong sell” rating to a “hold” rating in a report on Thursday, September 10th. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, National Australia Bank currently has an average rating of “Buy” and an average target price of $42.50.

National Australia Bank Price Performance

The stock’s 50-day moving average is $13.71 and its 200 day moving average is $13.86.

National Australia Bank Company Profile

National Australia Bank Limited (OTCMKTS:NABZY) is a major Australian banking and financial services company headquartered in Melbourne, Australia. The bank provides services to individual, business, corporate and institutional customers through the NAB brand and related operations.

NAB’s offerings include transaction and savings accounts, home and personal loans, credit cards, business lending, cash-flow and payment solutions, foreign exchange, trade finance, corporate banking and investment services.