Swedbank (OTCMKTS:SWDBY) Reaches New 1-Year High – Here’s Why

Swedbank AB (OTCMKTS:SWDBY)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as SEK 35.03 and last traded at SEK 34.87, with a volume of 12900 shares trading hands. The stock had previously closed at SEK 34.65.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Barclays reiterated an “underweight” rating on shares of Swedbank in a research note on Wednesday, December 10th. The Goldman Sachs Group lowered shares of Swedbank from a “hold” rating to a “sell” rating in a research report on Thursday, December 4th. Morgan Stanley reissued an “underweight” rating on shares of Swedbank in a research report on Monday, November 24th. Zacks Research raised shares of Swedbank from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 18th. Finally, Citigroup reiterated a “neutral” rating on shares of Swedbank in a research note on Tuesday, October 14th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Swedbank presently has an average rating of “Reduce”.

Swedbank Stock Down 0.6%

The stock’s 50 day moving average is SEK 32.19 and its 200 day moving average is SEK 29.55. The company has a market capitalization of $39.01 billion, a PE ratio of 12.00 and a beta of 0.66. The company has a debt-to-equity ratio of 3.83, a quick ratio of 1.50 and a current ratio of 1.50.

Swedbank (OTCMKTS:SWDBY) last issued its earnings results on Thursday, October 23rd. The financial services provider reported SEK 0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of SEK 0.64 by SEK 0.15. The business had revenue of SEK 1.80 billion for the quarter, compared to analysts’ expectations of SEK 1.73 billion. Swedbank had a net margin of 26.30% and a return on equity of 15.55%. On average, sell-side analysts anticipate that Swedbank AB will post 2.34 EPS for the current fiscal year.

About Swedbank

Swedbank AB is a major Swedish banking group headquartered in Stockholm that provides a broad range of financial services to retail, corporate and institutional clients. The bank’s operations focus on traditional banking functions such as deposit-taking, lending and payment services, as well as wealth management and insurance solutions. Swedbank’s franchise is centered on serving households, small and medium-sized enterprises and larger corporate customers, with an emphasis on everyday banking and long-term client relationships.

Products and services offered by Swedbank include savings and current accounts, mortgages and consumer lending, business loans and transaction banking, payment and card services, and digital banking platforms.