Home / Market Movers / Midday Mover: National Bank of Canada (NA:CA) Skids 1.03% to Lead TSX Composite Financial Laggards at Noon on September 22

Midday Mover: National Bank of Canada (NA:CA) Skids 1.03% to Lead TSX Composite Financial Laggards at Noon on September 22

National Bank of Canada (NA:CA) is one of the weakest performing stocks in the financial sector in the S&P/TSX Composite Index at the lunch break on September 22. Shares of NA:CA have fallen 1.03% about halfway through the session to $47.07 after closing the day prior at $47.56. So far, the stock has traded as high as $47.34 and as low as $46.99 in morning action. Today’s retreat has come with about 534,038 shares changing hands, compared to an average 30-day volume of 1.11 million for National Bank of Canada. The price is currently below the 30-day volume weighted average price of $47.16 for NA:CA.

The share depreciation gives the financial company a market capitalization of $16.06 billion based upon 337.69 million shares outstanding. It also means that Nat'l Bank of Ca has a price-to-book ratio of 1.68:1 and a price-to-earnings ratio of 13.7:1.

In the past 52 weeks, shares of NA:CA have traded as low as $34.86 and as high as $47.98. Technical traders will take note that at $47.07, shares of NA:CA are trading above their 200-day MA at $42.15 and above their 50-day MA at $46.07. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move beneath or holding under them is typically regarded as bearish.

Who is Nat'l Bank of Ca?

National Bank of Canada provides financial services to consumers, small and medium-sized enterprises, and large corporations. It operates through three segments; Personal and Commercial, Wealth Management and Financial Markets. The company’s 19754 employees are led by CEO Louis Vachon from the corporate headquarters at 600 De La Gauchetiere Street West.

What is the S&P/TSX Composite Index?

Developed and managed by S&P Dow Jones Indices and launched in January 1977, the S&P/TSX Composite is the headline index for the Canadian equity market. Generally, when investors refer to movement in the Canadian markets, they are referring to the S&P/TSX Composite, as it is the broadest index in the S&P/TSX franchise. The index includes more than 230 of the biggest companies traded on the Toronto Stock Exchange, with financials making up the most heavily weighted sector in the index, followed by energy and materials. The Toronto Stock Exchange serves as the distributor of both real-time and historical data for this index.

For more information on Nat'l Bank of Ca and other companies trading on the major exchanges, as well as the over the counter markets, or to be considered for contributing content for our distribution network, visit FinancialPress.com today.

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