Nordea Bank (OTCMKTS:NRDBY) Shares Down 8.1% – Time to Sell?

Nordea Bank AB (OTCMKTS:NRDBY)’s share price was down 8.1% during mid-day trading on Thursday . The stock traded as low as $16.42 and last traded at $16.61. Approximately 11,188 shares were traded during mid-day trading, a decline of 98% from the average daily volume of 449,593 shares. The stock had previously closed at $18.07.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on NRDBY shares. Zacks Research upgraded shares of Nordea Bank from a “strong sell” rating to a “hold” rating in a report on Thursday, February 12th. Citigroup restated a “buy” rating on shares of Nordea Bank in a research report on Thursday, January 15th. The Goldman Sachs Group cut Nordea Bank from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 4th. Nordea Equity Research downgraded Nordea Bank from a “buy” rating to a “neutral” rating in a report on Thursday, December 4th. Finally, Barclays reissued an “underweight” rating on shares of Nordea Bank in a research note on Wednesday, December 10th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold”.

Nordea Bank Trading Down 8.3%

The company has a debt-to-equity ratio of 6.33, a quick ratio of 1.23 and a current ratio of 1.23. The company has a market capitalization of $56.61 billion, a P/E ratio of 10.48, a PEG ratio of 3.14 and a beta of 0.62. The company’s fifty day simple moving average is $19.22 and its 200-day simple moving average is $18.06.

Nordea Bank (OTCMKTS:NRDBY) last announced its quarterly earnings results on Thursday, January 29th. The company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.03. Nordea Bank had a net margin of 22.36% and a return on equity of 15.61%. The firm had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $3.42 billion. Research analysts predict that Nordea Bank AB will post 1.4 earnings per share for the current year.

About Nordea Bank

Nordea Bank is a leading financial services group focused on serving retail, corporate and institutional customers across the Nordic region. The bank’s core activities include retail and commercial banking, corporate and institutional banking, asset and wealth management, and related financial services such as payments, cash management and trade finance. Nordea delivers these services through branch and digital channels, aiming to provide integrated banking solutions for everyday consumers, small and medium enterprises, and large corporations.

Product offerings span deposit and lending products including mortgages and consumer loans, transaction banking and treasury services for corporate clients, investment and pension solutions through its asset management businesses, and wealth management services for private clients.