Short Interest in DNB Bank ASA (OTCMKTS:DNBBY) Increases By 598.2%

DNB Bank ASA (OTCMKTS:DNBBY) was the recipient of a significant increase in short interest in May. As of May 29th, there was short interest totaling 12,351 shares, an increase of 598.2% from the May 14th total of 1,769 shares. Currently, 0.0% of the company’s shares are short sold. Based on an average trading volume of 218,300 shares, the short-interest ratio is currently 0.1 days.

DNB Bank ASA Stock Down 1.1%

DNBBY traded down $0.32 during trading on Thursday, hitting $29.61. The company had a trading volume of 14,005 shares, compared to its average volume of 59,958. The company has a market capitalization of $45.91 billion, a PE ratio of 10.69 and a beta of 0.63. The firm’s 50-day moving average price is $31.09 and its 200 day moving average price is $29.69. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 3.01. DNB Bank ASA has a one year low of $24.77 and a one year high of $33.81.

DNB Bank ASA (OTCMKTS:DNBBY) last released its earnings results on Thursday, April 23rd. The company reported $0.67 EPS for the quarter, meeting the consensus estimate of $0.67. The firm had revenue of $2.24 billion for the quarter, compared to analysts’ expectations of $2.29 billion. DNB Bank ASA had a return on equity of 14.23% and a net margin of 21.06%. As a group, equities analysts expect that DNB Bank ASA will post 2.89 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have weighed in on DNBBY. Nordea Equity Research upgraded DNB Bank ASA to a “buy” rating in a report on Thursday, April 9th. Barclays upgraded DNB Bank ASA from a “hold” rating to an “overweight” rating in a report on Wednesday, April 8th. Citigroup reiterated a “neutral” rating on shares of DNB Bank ASA in a report on Wednesday, April 29th. Morgan Stanley reiterated an “underweight” rating on shares of DNB Bank ASA in a report on Tuesday, May 12th. Finally, Zacks Research cut DNB Bank ASA from a “strong-buy” rating to a “hold” rating in a report on Friday, May 8th. Two research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, DNB Bank ASA currently has a consensus rating of “Hold”.

DNB Bank ASA Company Profile

DNB Bank ASA (OTCMKTS: DNBBY) is Norway’s largest financial services group, offering a broad range of banking, insurance and capital markets services to retail, corporate and institutional clients. The bank’s core activities encompass retail and commercial banking, corporate and investment banking, asset management, life insurance and pension products, as well as payment and card services. DNB provides traditional deposit and lending products, mortgages, savings and wealth management solutions, securities trading, corporate finance and treasury services.

The group operates through several specialized business lines, including DNB Markets for investment banking and capital markets activities and DNB Asset Management for portfolio management and investment funds.