Danske Bank (OTCMKTS:DNKEY) Sees Significant Decline in Short Interest

Danske Bank (OTCMKTS:DNKEY) saw a significant decline in short interest in July. As of July 31st, there was short interest totaling 17,659 shares, a decline of 87.7% from the July 15th total of 143,686 shares. Currently, 0.0% of the shares of the stock are sold short. Based on an average daily volume of 70,721 shares, the days-to-cover ratio is currently 0.2 days.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Zacks Research raised Danske Bank from a “hold” rating to a “strong-buy” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Danske Bank in a research note on Thursday, July 30th. Citigroup reiterated a “buy” rating on shares of Danske Bank in a research report on Monday, July 6th. Morgan Stanley reiterated an “overweight” rating on shares of Danske Bank in a research note on Wednesday, June 24th. Finally, The Goldman Sachs Group reissued a “neutral” rating on shares of Danske Bank in a report on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

Danske Bank Price Performance

DNKEY traded up $0.11 during trading on Thursday, hitting $28.71. The company’s stock had a trading volume of 29,084 shares, compared to its average volume of 58,250. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 8.09. The stock has a market capitalization of $46.84 billion, a price-to-earnings ratio of 12.70 and a beta of 0.61. The firm’s 50 day moving average price is $27.48 and its two-hundred day moving average price is $26.31. Danske Bank has a 12 month low of $20.16 and a 12 month high of $29.41.

Danske Bank (OTCMKTS:DNKEY) last announced its earnings results on Friday, July 17th. The financial services provider reported $0.59 EPS for the quarter, topping the consensus estimate of $0.56 by $0.03. Danske Bank had a return on equity of 13.80% and a net margin of 40.85%.The company had revenue of $2.32 billion for the quarter, compared to analysts’ expectations of $2.24 billion. Sell-side analysts forecast that Danske Bank will post 2.29 earnings per share for the current fiscal year.

Danske Bank Company Profile

Danske Bank A/S is a major Danish banking group headquartered in Copenhagen. The firm traces its origins to the 19th century and has grown through mergers and organic expansion into one of the region’s largest financial institutions. Its shares are primarily listed on Nasdaq Copenhagen, and American investors may encounter the bank’s ADR trading on the U.S. over-the-counter market under the symbol DNKEY.

The bank provides a broad range of financial products and services across retail, commercial and institutional segments.