NEW YORK (TheStreet) -- Shares of the National Bank of Greece (NBG) are down by 0.38% to $1.32 in late afternoon trading on Thursday, as Greece has once again failed to reach a deal with its creditors.
Euro zone finance ministers ended their third meeting in a week with no agreement. The country's three international creditors put forth a final cash reform proposal in its battle with the Greek government, Reuters reports.
For months Greece and its creditors have been meeting in order to work out a deal that would keep the debt-riddled country from defaulting and possibly exiting the euro zone.
Greece must make a 1.54 billion euro payment to the International Monetary Fund at the end of the month, which is next week, or risk bankruptcy.
Another meeting will be held on Saturday as a final effort to avoid a Greek debt default, Reuters noted.
"The door is still open for the Greek side to come with new proposals or accept what is on the table," Eurogroup chairman Jeroen Dijsselbloem told reporters, Reuters said.
Separately, TheStreet Ratings team rates NATIONAL BANK OF GREECE as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate NATIONAL BANK OF GREECE (NBG) a SELL. This is driven by a few notable weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its feeble growth in its earnings per share, deteriorating net income, disappointing return on equity, poor profit margins and weak operating cash flow."