National Bank of Greece ADR (NYSE:NBG) reverse stock split of shares

Christine Lawrence - June 13, 2013

Boston, MA 06/13/2013 (wallstreetpr) – The prices of American Depository Shares of National Bank of Greece ADR (NYSE:NBG) had surged by 8.77 percent to close at $5.58 per ADR. The ADRs of the bank holding company had been trading in the range of $5.33 to $5.63 per share, very close to its 52 week low levels. The American Depository Shares of National Bank of Greece ADR (NYSE:NBG) had recorded 52 week low price levels of $5.03 per ADR and 52 week high price level of $32.50 per ADR.

National Bank of Greece ADR (NYSE:NBG) had announced the reverse stock split of its shares for two times in the past two years. Recently on May 30,2013, the bank holding company had announced and executed the reverse stock split of its American Depository shares to the ratio of ten existing shares to one new share. This reverse stock split had plunged the shares of National Bank of Greece ADR (NYSE:NBG) to low levels of $5.03 per share.

Earlier, the bank holding company had announced and implemented a reverse stock split in the ratio of five to one in November, 2011. This stock split also had a negative impact on the share prices of National Bank of Greece ADR (NYSE:NBG), which had from then plunged by more than 50 percent. The Greece based financial institution provides a wide range of financial services  which include corporate and investment banking, stock brokerage services, retail banking, leasing, insurance, asset management and venture capital, consulting and real estate services.

The shares of National Bank of Greece ADR (NYSE:NBG) had recently been surging from their bottoms with more than average trading volumes. The company had witnessed the trade of 3.40 million shares on Wednesday, while the average trading volume of National Bank of Greece ADR (NYSE:NBG) is at 2.79 million shares per day.

National Bank of Greece ADR (NYSE:NBG) presently holds 122.63 million shares outstanding in the market.

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Christine Lawrence

Christine Lawrence is a financial analyst. She loves analyzing socioeconomic trends in the background of financial moves. She has overall seven years of experience in Auditing, Finance and Writing.

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